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Christie & Co: Hotel Investment Amounted to €2.4bn in 2019, led by Madrid

23 January 2020 – Press Release

23 January 2020 – Press Release

According to a report compiled by the real estate consultancy Christie & Co, hotel investment in Spain amounted to €2.375 billion in 2019, down by 51% YoY from €4.86 billion in 2018. The main reason for the decrease was the lack of holiday-hotel-portfolios available for sale. In fact, investment in hotel portfolios fell from €3 billion in 2018 to €0.5 billion in 2019.

Instead, 2019 was marked by individual transactions in the urban hotel market, led by the Community of Madrid, which accounted for 23% of total investment (compared with 13% in 2018). Madrid was followed by the Community of Valencia (16%), the Balearic Islands (14%), Cataluña (14%), Andalucia (13%) and the Canary Islands (11%).

Overall, urban destinations accounted for 59% of total investment, compared with 36% in 2018, driven by factors as varied as the recovery of rival destinations in the Mediterranean, the evolution of Brexit and the collapse of Thomas Cook. The most popular cities were Madrid, Valencia, Barcelona and Málaga.

Finally, unlike in 2018, most of the capital during 2019 was domestic, accounting for 66% of total investment. In terms of international capital, France led the charge, followed by the United Kingdom and the USA.

Original Story: Press Release

Translation/Summary: Carmel Drake