The fall in revenues for the hospitality sector this summer will force small and medium-sized hotel groups to divest themselves of some of their assets in order to survive. Market watchers point to tourist areas such as the Balearic Islands, the Costa del Sol and also Barcelona, as the regions that are most affected by the impact of Covid-19 and where such sales will likely take place.
The financial support such businesses have received will play a significant role in the process. After the first refinancing operations at the beginning of the crisis, the most indebted firms will now be forced to seek other solutions in view tightened credit conditions, according to Cushman & Wakefield.
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