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The Hotel Sector Prepares to Close Sales Worth Almost €1.5 Billion

The pipeline of hotel operations currently stands at 1.45 billion euros and the year is expected to close with total investment of more than 2 billion euros, according to Colliers.

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2020 was one of the hardest years ever for the Spanish hotel sector due to the outbreak of Covid-19. The main causes were the sharp drop in tourism as a result of mobility restrictions and lockdown periods, along with the suspension of business travel.

The year closed with a total investment volume of 955 million euros, which represents a decrease of 62.1% compared to the previous year. That left operations worth 745 million euros in limbo, since the pipeline amounted to 1.7 billion euros at the beginning of 2020, according to data from Colliers.

Read the full article in Spanish.

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