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Hotel investment in Valencia more than doubles and reaches €145M
29 November 2019 | Vanessa Sousa

In the first 10 months of the year alone, hotel investment in Valencia more than doubled, reaching 145 million euro. During the same period last year, hotel investment in Valencia only reached 60 million euro.

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This data was provided by consultant Colliers Internacional, which also revealed that a total 10 buildings were traded up until now which were either hotels or will become hotels after renewal.

The latest hotel transaction was Hotel Tryp Valencia Feria. Hotel Meliá Valencia was sold in May for 43 million euro by Atom Hoteles. Other investors are also active in the Valencian Community, revealed El Economista. Blackstone, Elaia and Alantra are three examples.

In terms of developing new hotels, Valencia currently has 24 projects under way which total more than 1.000 beds. One of them is the Axel Valencia.

The increase in the number of tourists in the Valencian Community, together with the increase in profitability in terms of accommodation are two factors which might explain this investment increase, according to the same newspaper.