One of the world’s leading real estate investment advisory and management services companies expects investment in hotels across Spain to reach 2.85 billion this year
The Costa del Sol and the city of Malaga continue to be a safe haven for hotel investors. Neither the impact of the pandemic, which triggered the biggest crisis in tourism history, nor the current uncertainty, which continues to weigh on recovery forecasts, has weighed on a destination that remains a safe bet. .
Data from Colliers, one of the world’s leading real estate investment advisory and management companies operating in 65 countries, indicates that the province of Malaga has positioned itself in recent years as one of the main locations for hotel investment. and real estate development, including the construction of new hotels, in Spain. In 2022, Colliers expects investments in hotels in the region to reach 355 million euros.
Laura Hernando, managing director of Colliers, said 29 hotel projects on the Costa del Sol are due to be completed next year, adding more than 3,300 rooms.
“Several important projects are worth highlighting, such as the comprehensive reform of La Zambra, the former and iconic Byblos, following its acquisition by Intriva Capital in a process advised by Colliers. In addition, the complete reform of the former Hotel Don Miguel in Marbella, by Magna and Club Med, as well as the remodeling of the Doña Julia de Casares establishment, which will mean the entry of the Hilton chain on the Costa del Sol with its Conrad brand, or the conversion of the Palacio de la Tinta in Malaga, acquired at the end of 2019 by Hotusa at a public auction,” she said.
Across Spain, Colliers expects investment in hotels to reach 2.85 billion in 2022.
“This figure, which is much higher than other years, includes both the investment originally planned for this year and the backlog of investments created over the past two years,” Hernando said.