In 2017, 3,907 million euros were invested in the purchase of establishments – in addition to similar investments in the last three years (some 10,000 million) – and only 20% of those operations were carried out by traditional hoteliers, the largest volume of operations corresponded to local and international investors, whose main interest is the profitability of the stone in which they invest, since hotel management transfers it to third parties. Most of the investment – as the attached chart shows – corresponded to international funds, with Blackstone at the helm, London & Regional, AXA and Benson Elliot. Socimis and investors, such as HI Partners (now Blackstone) or Portobello Capital join the buyers
2018 keeps the trend
It highlights the acquisition by Hispania of seven hotels (1,708 rooms) owned by the Alua chain with an asset value of 165 million euros and with which it managed to apply 100% of the investment capacity initially committed by its shareholders. He also mentions the acquisition of 16.56% of Hispania by Blackstone. Thanks to this operation, it has added to its previous investment in HI Partners a participation in 46 new hotels and three floors for hotel developments.
Included in this chapter is the acquisition by Socimi Atom, (Bankinter), of a portfolio of 15 hotels and more than 3,700 rooms; as well as the materialization of the strategy designed by the Accor group (following in the footsteps of other international chains) to separate the management and ownership of the hotels. This transaction culminated with the sale, in June, of a 57.8% stake in its AccorInvest vehicle to a group of investors led by the sovereign wealth funds of Saudi Arabia (PIF) and Singapore (GIC). The portfolio acquired included 11 hotels (1,572 rooms) located in Spain and operated under the Novotel and Ibis brands.
It is also worth mentioning the acquisition by Blackstone of Banco Santander of 50% of all the real estate risk from Banco Popular, which included a significant portfolio of foreclosed hotels. And also the recent acquisition by Minor Hotel Group of a share of 29.81% in NH, through which it has become, indirectly, the owner of 11 NH hotels located in Spain (1,790 rooms).