Singapore and Abu Dhabi sovereign wealth funds are the main investors in hotels in Spain in 2023.

This increase in assets is entirely due to the purchase undertaken on October 31st. when it acquired 35% of HI Partners from Blackstone for $4.7 billion.. At the time, Blackstone’s hotel investment firm had more than 20,000 rooms in Spain. This is the most important transaction undertaken in the hotel sector in the country over the past year.

The portfolio of properties that formed the basis of the Singapore government’s investment vehicle are spread across the peninsula’s main tourist enclaves, such as the Canary Islands and other sun and beach destinations in Spain.

(Malaga and Costa del Sol will end 2023 with $560 million in hotel investment)

Despite their geographical dispersion, they all have one common element: location in space. bonus. In this sense, it is worth remembering that the portfolio of HI Partners, acquired by the Singapore government, is managed by the main players sectors such as Marriott, Hyatt, Barcelo, Melia or Lopesan.

Behind Singapore’s sovereign wealth fund is another government investment arm, Abu Dhabi. Abu Dhabi Investment Authority (ADIA) secured a total of 17 hotels in Spain in June last year for around €600 million, becoming the country’s second-largest investor last year.

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The portfolio includes exclusive properties such as a hotel ME Madrid Queen Victoria, located in the heart of Madrid. The seller, Equity Inmuebles, also transferred five of the brand’s hotels to the Abudabí fund portfolio. Melia -located in Madrid, La Coruña and Baqueira Beret-, eight of trippy -which have no location- and three of Sunwhose location is also not reported.

Last year, international investors accounted for the bulk of investment in Spain’s hotel business, with transactions worth 3.188 million euroswhich corresponds to 75% of the total annual volume.

(March partners with Meliá and acquires 80% of three hotels in Ibiza and Fuerteventura)

The Colliers report also highlights the role of domestic investors, who originated the largest number of transactions, with 81 of 107 (76%) closed deals valued at €1.061 million. Among this group, investors stand out as: Bank March, Meridia Capital, gestamp, Hydbridge, Magical Costa Blanca or Grupotel.

In particular, taking into account all investments, Banca March is positioned as the fourth most important for the entire 2023. Last May he signed an agreement with Meliá to create joint venture with which he acquired three hotels: one in Ibiza and two in Fuerteventura. Three objects are located on the seashore.

Investment by major groups in the hotel market has risen in Spain over the past year to 4.248 million, placing Spain at the top of Europe. After two years in which investments exceeded 3,000 million, the sector managed to reach 4,000 million for the first time since 2018.

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