Revealed: Top 10 Spanish hotel investors of 2021

Hotel Sofía, Barcelona
The Hotel Sofia in Barcelona. (Colliers)

Brookfield Asset Management was the biggest buy side financial investor in the Spanish hotel market in 2021, according to a new report by Colliers.

The company’s acquisition of Selenta Group put it to the top of the table ahead of the likes of Archer Hotel Capital, Bankinter and Schroders.

  Investor Number of Hotels Number of Rooms
1 Brookfield Asset Management 4 2,236
2 Archer Hotel Capital 1 200
3 Bankinter / GMA 8 1,660
4 Schroders 2 461
5 Castlelake 10 539
6 Lasalle Investment Management 1 255
7 RLH Properties 1 111
8 Blasson Property 1 137
9 All Iron RE 8 367
10 Starwood Capital 1 429

 

Last year, a total of 127 hotels and 22,249 rooms were sold in Spain, versus 68 hotels and 7,228 rooms in 2020. Furthermore, another 18 transactions took place for hotel development land and properties to be converted into hotels. Hotel investment in Spain reached €3.2 billion in 2021, the third highest (behind 2017 and 2018) annual figure over the last decade, illustrating the strength of the market, even in the era of Covid-19.

Key Markets

Barcelona and Madrid were once again the leading urban destinations with €760 and €468 million respectively, accounting for almost 39% of the total (€1.2 billion) for the second consecutive year.

In the holiday segment the Canary Islands and the Balearic Islands were the main destinations, totalling €633 million and €541 million respectively, representing 37% of total investment.

The transaction data was included in the annual Hotel Investment Report produced by Colliers.

What They Said

Laura Hernando, managing director of the hotels department at Colliers International Spain, said: “Overall, we believe that the trend of the past year will continue and that, with a few exceptions, we will not see many distressed transactions. As already observed, quality assets have weathered the storm best and will continue to do so. The market fundamentals are very positive, including the country's global leadership in tourism, strong investor appetite, excess liquidity with interest rates at historic lows, high purchasing pressure and plenty of repositioning opportunities.”