{"id":19572,"date":"2021-08-20T15:40:27","date_gmt":"2021-08-20T13:40:27","guid":{"rendered":"https:\/\/www.euroeconomics.com\/hotel-chains-are-selling-their-assets-in-spain\/"},"modified":"2022-07-22T08:50:51","modified_gmt":"2022-07-22T06:50:51","slug":"hotel-chains-are-selling-their-assets-in-spain","status":"publish","type":"post","link":"https:\/\/www.euroeconomics.com\/en\/hotel-chains-are-selling-their-assets-in-spain\/","title":{"rendered":"Hotel chains are selling their assets in Spain"},"content":{"rendered":"

The hotel sector is struggling, but the so needed demand is still failing, due to the restrictions because of the pandemic. Although there has been plenty of creative initiatives to attract the local people (f.e. work stations, packages consisting of dinner and hotel stay, and others), operations remain in deficit. And for this reason some have no other choice but selling assets.<\/strong><\/p>\n

More and more assets become available on the market, while waiting for the demand to go back to normal levels, which would allow to go back to positive cash numbers. With this objective in mind, some chains are looking for sale & lease back operations<\/strong>, which means the asset is being sold, maintaining the lease with a purchase option at the expiration of the lease term.<\/p>\n

Chains selling parts of their assets<\/h2>\n

Among the hotel chains thinking about selling assets are Meli\u00e1, NH and Riu. The first has already identified assets that would generate between 150 and 200 millions of cash flow, the second over 200 millions, and the third, part of Tui, is selling three hotels in Madeira, Lanzarote and Panam\u00e1, with over 1500 rooms and together worth about 250 millions of euros.<\/p>\n

Another chain selling assets is Selenta, who after selling Hotel Nobu in Barcelona for 80 millions, is now looking for the sales of five other hotels in Spain, to make between 400 and 450 millions. Hotel chain Barcel\u00f3 sold the mythic Hotel Formentos for 165 millions a few months ago. Other selling parties are \u00danico Hotels, H10 and Hotusa, and owners who are selling just one hotel.<\/p>\n

Tendency already started before pandemic<\/h2>\n

Although the need to sell assets is a direct consequence of the delicate financial position of hotels due to the pandemic, it’s also part of a larger strategic process that started a few years ago, where the sector is starting to give more importance to the management instead of property, reducing the intensity of capital within the sector.<\/p>\n

According to various sources, at the moment there are 1200 hotels for sale in Spain.<\/p>\n

Source: Expansi\u00f3n<\/a>.<\/p>\n

 <\/p>\n

Purchasing Services Spain<\/h1>\n

Do you have a question? You are very welcome, click here. No costs<\/a><\/p>\n

Euro Economics specializes in real estate transfers involving foreign parties. We represent the interests of the foreign party, being the buyer or the seller.<\/p>\n

<\/h2>\n

Legal & Tax<\/h2>\n

Real estate in Spain is still a hot item, with or without the crisis. The still difficult economic situation of Spain implies that lots of sellers still need to sell out of necessity, which leads to more problems and complexities. We are specialised in finding legal and practical solutions in complex situations.<\/p>\n

<\/h2>\n

Spanish culture<\/h2>\n

In addition to having tax and legal knowledge both in house, we have also the knowledge of the Spanish culture which can be of help with negociations.<\/p>\n

Our aim is to explain situations clearly, get to the bottom of each issue and answer all your questions.<\/p>\n

<\/h2>\n

More information or a proposal?<\/h2>\n

Would you like\u00a0more information or a<\/strong>\u00a0proposal<\/strong>? We are more than happy to assist you.<\/p>\n

Send us your question<\/span><\/a><\/p>\n

 <\/p>\n

You will receive a reply within one business day<\/h3>\n

[:]<\/p>\n","protected":false},"excerpt":{"rendered":"

The hotel sector is struggling, but the so needed demand is still failing, due to the restrictions because of the pandemic. Although there has been plenty of creative initiatives to attract the local people (f.e. work stations, packages consisting of dinner and hotel stay, and others), operations remain in deficit. And for this reason some […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361],"tags":[],"class_list":["post-19572","post","type-post","status-publish","format-standard","hentry","category-real-estate-spain-en"],"yoast_head":"\nHotel chains are selling their assets in Spain - Euro Economics<\/title>\n<meta name=\"description\" content=\"More and more assets become available on the market, while waiting for the demand to go back to normal levels, which would allow to go back to positive cash numbers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.euroeconomics.com\/en\/hotel-chains-are-selling-their-assets-in-spain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hotel chains are selling their assets in Spain - 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