Hotel investment in Spain in the first half of 2024 reached €1.3 billion, a report by Colliers has revealed.
According to the report Hotel Investment in Spain, a total of 8,350 rooms were transacted in 71 operations.
Portfolio transactions accounted for only 21 per cent of the total volume compared to 62 per cent last year, with the two most relevant transactions being Atom's operation on the Miramar and Florida hotels in Barcelona and the acquisition by Banco Santander-owned Moon GC&P of a 38.2 per cent in a portfolio of three 5* hotels owned by Meliá in an operation valued at €300 million.
Hotels in the luxury segment represented 33 per cent hotel investment in the first half at €460 million, with Gruppo Statuto’s acquisition of the Six Senses in Ibiza a standout deal.
53 per cent of the invested volume has been allocated to the urban segment, breaking with the trend of the last 5 years.
By location, the Balearic Islands led the way, accounting for 30 per cent of the total, with 12 transactions worth €405 million and Barcelona ranking second with a total of 13 deals worth €300 million.
What they said
Gonzalo Gutiérrez, managing director of hotels at Colliers Spain said: “The pipeline of ongoing transactions amounts to €1.5 billion, which makes us optimistic about the second half of 2024. Although no major portfolio operations are in sight, such as those carried out by ADIA and GIC last year, we believe that the dynamics of smaller volume operations will continue and will allow us to reach normalized levels of €3 billion.”