9 September 2019
The volume of sales in the Valencian hotel sector totalled 110 million euros during the first semester of 2019, 57% more than during all of 2018. Two major transactions significantly boosted that figure, including the sale of the Meliá Valencia hotel for 42.3 million euros and the sale of the Travelodge hotel, a 116-room hotel next to the Valencia airport, for €15 million.
Socimis and investment funds have been the principal drivers of the sales, as the city and its tourism sector have seen a sustained uptick in growth. In parallell, the markets in Madrid and Barcelona have also seemed to reach maturity, providing returns below 5%, about 50 to 75 basis points below those in Valencia.
Original Story: Nexotur
Adaptation/Translation: Richard D. K. Turner