Canary Islands In 2023 it was the top destination of the hotel investment in Spain. And with a lot of difference. After a terrible 2022, a year in which investors ignored the Archipelago, the last year was once again extraordinary. Furthermore, the Islands subsequently assume national leadership a year in which the tourist accommodation sector achieved historic figures. In fact, the 4,248 million euros injected into the industry The Spanish hotel industry in 2023 represents the second largest sum ever, surpassed only by the over 4,800 million in 2018. And of this total, of those 4,248 million euros, Canary Islands they represented up to 28%, practically three euros out of ten.
He is far behind Balearics. The Mediterranean region, an eternal competitor of the Archipelago both in terms of tourists and capital, benefited last year from a volume of hotel investments 48% lower than that of the Islands. There has never been such a big gap in favor of the Canary Islands.
Colliers, the consultancy company specializing in financial and real estate consultancy, published this Monday its first balance sheet of investments in holiday accommodation in Spain during 2023. Operations in the Archipelago reached 1,175 million euros. The figure alone does not say much, but it represents an extraordinary leap compared to the numbers of 2022, when the inflow of capital into the hotel sector of the Autonomous Community remained at a meager 175 million. So that Investments in tourism establishments in the Islands increased sixfold in 2023, even more than six times. It is therefore not surprising that the Canary Islands hotel sector, which is at the forefront of Europe, went from being the least attractive to investors in 2022 to being the most attractive in the country last year. more in line with the leadership that the region’s accommodation facilities exercise in industry tourism of the Old Continent.
Fiscal year 2022 remains this way as a Rare avisa year in which all other major domestic destinations – the Balearic Islands, Madrid, Barcelona and the Costa del Sol– has received more succulent investments than the Canary Islands. Compared to the 175 million euros in the Archipelago, the capital invested in the hotel business of the other four major Spanish destinations fluctuates between 913 million in the Balearics and 225 million in Barcelona. Last year, however, The amount of the injection varied between 796 million in the Balearic Islands and 560 million in the Costa del Sol, compared to the 1,175 million euros that went to the Islands.. From the tail of classification in first place in just a year.
4,148 million euros
Hotel investments in Spain reached 4,148 million euros in 2023, according to data from consultancy firm Colliers. Of these, 1,175 million ended up in the Canary Islands.
28.3% Canary Islands
The mega-operation between Singapore’s sovereign wealth fund and HI Partners was the main one that allowed the Islands to capture up to 28.3% of all hotel investments in the country.
Desde Colliers The “protagonist” of the Islands was highlighted on Mondaywhich not only drive hotel investments in Spain in monetary terms, i.e. in terms of quantity of operations, but also in terms of number of operations. The 1,175 million euros that entered the sector last year are distributed across 39 transactions, the same amount as in the Balearic Islands and well above the sales recorded in Madrid, where 21 transactions were closed; Barcelona, where 11 in total were signed; and the Costa del Sol, with 14. The main transaction that occurred in 2023 in the Archipelago was one involving GIC, the Singapore government investment company, and HI Partners, the Blackstone fund that has become the largest hotel owner in Spain. Singapore’s sovereign wealth fund has acquired a 35% stake in HI Partners, which holds up to 60 assets in the country, for around 1.4 billion. The operation included 27 of these assets located in the Canary Islands, which thus became the focus of this megatransaction..
Laura Hernando, Managing Director of Colliers hotels, explained this Monday that, in addition, the investment prospects for 2024 are goodwith Spain and the Canary Islands in a “virtuous circle” which has allowed them to “firmly overcome the recent storms and to move closer to the center of attention of more and more investors who are beginning to see the hotel holiday segment as the asset class [clase o tipo de activos] increase theirs wallets in the short, medium and long term. However, at the beginning of the year, there is an obstacle to take into consideration represented by the increase in the cost of financing and credit, due to the aggressive increases in interest rates with which central banks fight inflation. «We will most likely see a very dynamic 2024 and just waiting for an adjustment in the cost of financing», underlined Hernando.
About 6,000 rooms
The data on hotel investments released by Colliers substantially coincide with those managed by CBRE, the American company which is another of the big names in the real estate sector. According to Colliers, the Canary Islands were the main investment destination in Spain with 1,175 million euros, 28% of the total, while CBRE analysts bring the sum to 1,194 million and 29% of the total invested in the country. But the most relevant thing is that both corroborate the leadership of the Archipelago, which with these amounts “is well above the average of the last four years”, i.e. the period 2019-2022, explains CBRE. From the numbers managed by the Los Angeles entity, it emerges that the operations closed last year in the Canary Islands resulted in the change of ownership of approximately 6,000 rooms. To get an idea of the Islands’ leadership in investor preferences in 2023, suffice it to note that for every hundred euros injected into Spanish hotels in the second half of the year, 87 arrived in the region. | BUT. M.
2024-01-16 19:32:45
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