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 😉