
Spain: Many hoteliers want to get rid of their houses
The corona pandemic caused a sharp decline in the number of overnight stays in Spain. Not surprisingly, many hoteliers want to throw in the towel and are looking for buyers for their properties. According to Idealista, there are currently 639 accommodation establishments available. Hoteliers are putting their properties on the market in coastal regions in particular, where increases of 44 percent have been recorded. This has a negative impact on prices, as there is obviously significantly more supply than demand at the moment. The local portal Hosteltur writes that 135 hotels are waiting for new owners in Andalusia alone. In Catalonia, there are said to be 113. On the Balearic Islands, 67 accommodation establishments are waiting for new owners. Almost two thirds of the establishments on offer are in classic holiday areas. City hotels are less on offer.