- Hotel Occupancy Rates Fell by 78.4% in Septemberby Carmel Drake on October 26, 2020 at 10:54 am
Spanish hotels registered 8.1 million visits in September, representing a decline of 78.4% in interannual terms, whilst prices fell by 13.4% YoY.
- The Hotel Sector Endures its Worst Ever Crisis: Just 37% of Establishments Are Currently Openby Carmel Drake on October 26, 2020 at 10:41 am
Average hotel occupancy in Spain was around 33% during the first nine months of the year and only 37% of hotels are currently operating, according to STR and Cushman & Wakefield.
- The Palace Hotel Obtains a €120 Million Loan to Survive the Crisisby Carmel Drake on October 23, 2020 at 7:04 am
BBVA and Crédit Agricole will share the 120 million euro loan that will allow Marriott to avoid closing the emblematic hotel, which has been renamed The Westin Palace.
- Las Terrazas de Abama in the Canary Islands is Named the Best Luxury Hotel in Spainby Carmel Drake on October 23, 2020 at 6:27 am
Opened in 2015, the five-star My Way complex features 151 luxury residences.
- Akiles Backs Out of the Purchase of 50% of the Aquamarine Hotel in Barcelonaby Carmel Drake on October 21, 2020 at 8:22 am
The Bulgarian company has reached an agreement with Interravers to undo the operation closed in 2019, through which it acquired 50% of the company that owns the hotel.
- B&B Continues its Expansion and Opens a New Hotel in Madridby Carmel Drake on October 15, 2020 at 7:11 am
B&B Hotels will operate the new B&B Hotel Madrid Alcorcón, which is owned by Domingo Contreras, under a guaranteed long-term rental contract, whereby continuing with its asset-light model in which it rents 100% of its real estate assets - the key to its strong growth rates.
- Unharmonious Negotiations and Stalled Transactions, The Hotel Market Post-Covidby Carmel Drake on October 13, 2020 at 10:11 am
The pandemic has led to the opening of renegotiation processes between hotel owners and operators with various solutions being adopted ranging from rent deferrals to rent waivers.
- Oaktree, Apollo, Azora and Schroders Evaluate Hotel Purchases in the Spanish Marketby Carmel Drake on October 2, 2020 at 10:25 am
Investment funds are waiting for the transaction market in Spain to reopen so that they can buy hotels with discounts given the need in the sector due to the Covid crisis.
- The Norwegian Group Servatur Buys a Hotel in the Canary Islands for €56 Millionby Carmel Drake on September 29, 2020 at 12:08 pm
The tourist group Servatur has won the auction for the 469-room Beverly Park Hotel in Gran Canaria for 56 million euros.
- OHL Inaugurates Canalejas Despite its Sale Still Being Up In The Airby Carmel Drake on September 28, 2020 at 8:40 am
The group that owns 50% of the project is putting the sale of the complex on hold for the time being, in order to use the appreciation of the asset as a financial guarantee.