Six major Spanish hotels are allied with funds to grow
Six major Spanish hotels such as Meliá, Barceló, NH, Palladium, Hesperia and Roxa (Blau) agree to strengthen the formula to expand allies to investment funds that are made with real estate and that give them the management of the establishment
The large venture capital funds and managers rule out that Spain is at the end of a hotel investment bubble, after in 2018 4,810 million euros were invested, a historical investment record.
The 9 investment funds that have invested most in the Balearic hotel industry – such as Blackstone, Atom Hotels, Portobello Capital, Covivio, CBRE Global Investors, Corum AM, Elaia Investment, KKR and Hispania – face new opportunities as the purchase and sale prices of the hotels are going to fall considerably as a direct effect of the competition of the countries of the Eastern Mediterranean, mainly Turkey.
Andalusia, on its side, registers a “boom” of investment funds buying hotels, because in recent times dozens of them have been acquired by up to thirteen such firms as Hi Partners (Blackstone); Atom (Bankinter); Azora; the French Corum, Batypart and Covivio; the Russians of Velum Group; the British Activum SG, Intriva Capital, and Pygmalion Capital; the Hong Kong Platinum Estates and Gaw Capital, and the Greek fund Ikos –also chain– (Thirteen investment funds add dozens of hotels bought in Andalusia)