This investment was intended for the renewal or construction of 742 hotel establishments with a total of 127,400 rooms, which means that 17% of the hotel plant in Spain is new or has been modernized in this period.
This is reflected in the first Report on Investment in Hotel Renovations and Hotels in Construction prepared by Colliers International and presented today at a press conference by Miguel Ángel Falcón, Managing Director of Technical Services of Colliers International and Laura Hernando, Managing Director of the Division of Hotels. This report complements the analysis of hotel investment prepared annually by Colliers International.
At the date of issuance of the report, an investment volume of €6,198 million was expected in the short-medium term, intended to renovate or build 522 hotels and 82,480 rooms. Of the total of this volume, 68% will go to the construction of new establishments, which confirms the drive in the construction of new hotels, significantly affected by the crisis in the last decade. In fact, the new construction, which received €943 million in the 2015-2017 period, has not started to be relevant until last year.