Sales of Hotels falls 53%

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    • #55409

      Investment in hotels has fell 53% in 2009. The few transactions that did take place were mainly in Madrid and Barcelona.

      Not suprising as official figures for December showed that hotel occupancy in Andalucía was only 34% 😯 This in a month that includes many official holidays. OH says the break even figure would be about 55%, I think Spain’s would probably be less, maybe 45% but even then they are losing. I have noticed a higher number of hotels closing down for the winter this season and some are rumoured not to re-open.

      So, if you are having a problem shifting that 150,000 apartment, look on the bright side and think of those poor hotel owners 😉

    • #96426

      It’s not surprising considering this today on ‘Typically Spanish’ website:

      Valencia was the region of Spain to suffer the largest fall in tourist income last year according to the latest EGATUR survey which estimates that 700 million € was lost in 2009 compared to 2008.

      A fall in both the number of international tourists and also in their average spend, saw total spend down 14.2%, as the region was hard hit according to the Institute for Tourist Studies.

      Behind Valencia came Canaries – income down 13.4%, Baleares down 7.2%, Andalucía down 6.7%, and Cataluña down 6%.

      Madrid was the only region of the country to see a growth in both the number of foreign visitors and the amount they spent over 2009.

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