MADRID – No fewer than 1,079 hotels are for sale in Spain. That represents an increase of 13.6% compared to a year ago. Those who want to start a hotel in Spain have the largest choice in the Balearic Islands and Málaga. There are 91 hotels for sale in both areas.
This is evident from data from the property portal Idealista. Hotels are for sale in all Spanish provinces, except in the autonomous cities of Ceuta and Melilla. The regions with the largest “stock” of hotels at the end of October were on the coast. The Balearic Islands and the province of Málaga are in the lead with both 91 hotels looking for a new owner.
This is followed by Alicante (72), Girona (69), Barcelona (60), Las Palmas (49) and Granada (48). Inland provinces such as Cuenca and Navarra, the ‘stock’ doubled, along with Murcia, while in Jaén it tripled.
In other major tourist markets such as Barcelona (-22.1%), Valencia (-17.5%), Balearic Islands (-10.8%) or Castellón (-10.5%), the number of hotels for sale decreased compared to October 2021.
In Malaga, meanwhile, the offer increased by 28.2%, while in Madrid it increased by 27% to 47 offers. It also shot up 69.2% in Cadiz and even Teruel saw supply increase by 55.6%.
In contrast, provinces such as Álava, Albacete, Guipúzcoa, La Rioja, Lleida, Ourense, Navarra, Soria and Vizcaya had less than half a dozen hotels for sale, according to Idealista, Spain’s largest real estate platform.
Striking hotel for sale
A strikingly beautiful hotel that is for sale is Hotel Palacio de San Benito in Seville, the former hermitage of the Order of Calatrava. It was built at the end of the 15th century. The new owner must be willing to pay 5 million euros for it. The hotel is located in the Sierra Norte de Sevilla in Cazalla de la Sierra, also the place where you start or end Andalucia’s most beautiful Via Verde. The hotel has 10 rooms and has been operating under the guise of: ‘Living like kings in the mountains of Seville’. The advertisement emphasises that it is possible to make 30 rooms. According to the current owners, the hotel has a year-round occupancy of 90%.
Continued economic uncertainty difficult for hoteliers
The economic situation remains uncertain due to the consequences of the war in Ukraine, the consequences of the skyrocketing inflation in Europe and the resulting action by the European Central Bank (ECB) to match the rise in shopping basket prices with the rise in interest rates. to bank on money. Something that also affects the tourism sector and in particular the hoteliers in Spain.