Despite the clear signs of recovery shown by the commercial real estate segments, the Iberian hotel segment continues in counter-cycle having registered, during the third quarter, the worst investment volume of the last 12 months.
Between July and September, a little more than 92 million euro were invested in hotels in the Iberian Peninsula, corresponding to 6 operations. Despite the number of transactions being twice as many as during the previous quarter, the investment volume was 68% less. This drop is reflected on the ticket per deal which went from 97 million euro per deal to only 15 million euro per deal. The difference is not so expressive y-o-y, since total investment during this period was of only 14% less than the 107.8 million euro invested during the same period last year.
While the previous quarter had 2 operations above 100 million euro: H10 Punta Negra and Abora Buenaventura, During the Summer months the most significant deal was the acquisition of Hotel Beverly Park in Gran Canaria by Servatur for 56 million euro. The second-largest operation was the purchase of B&B Hotel Barcelona Rubí for an estimated 12 million euro. The remaining 4 operations were closed for between 3 and 10 million euro.
All the information is available at the Hotel Report from Iberian Property which can be downloaded HERE.
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Disclaimer: This information is based on public data gathered within the platform Iberian Property Data. All estimates were calculated based on registered public information and data from the main consultants within the market. It should be noted that the results presented here may be updated if new information is issued.