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Spanish hotel investment record the highest year-on-year growth.
Sunday, 4th December 2016
Source : CBRE Group Inc.

Q3 2016 was overall more positive compared to the first half of 2016 with the decline in deal volumes only down by 6% compared to a strong Q3 2015, according to the latest figures from global commercial property advisor CBRE. 

Q3 2016 saw Spanish hotel investment record the highest year-on-year growth of 162%, with transaction volumes reaching €537 million. This was largely driven by strong investor demand to buy and capitalise on the improving economic and performance recovery which has continued to gather pace.

Transactions this quarter spanned the country, including gateway and secondary cities and resort locations. A notable transaction was the five-star Pullman Barcelona Skipper, 241-keys and sold off a guide price of €90million. Italy and Ireland have also seen a year-on-year increase of 135% and 106% respectively in Q3 2016.

The German hotel investment market has remained the most attractive to investors with transaction volumes reaching €856 million in Q3 2016. Germany continues to offer consistently high levels of liquidity and strong market fundamentals.

Joe Stather, Information and Intelligence Manager EMEA, CBRE Hotels, said: “European hotel transaction volumes continue to reflect the challenging current climate and the decline is in line with the slowdown across all mainstream European commercial property. However, the rate of negative growth in hotels is slowing and a strengthening deal pipeline in the UK, Spain and Italy suggests more buoyant deal volumes for the beginning of 2017".

Jorge Ruiz Andres, CBRE Hotels, Spain, said:”Investor appetite for Spain is soaring on the basis of strengthening economic fundamentals, performance growth across the country and attractive asset pricing relative to other consolidated European destinations. The liquidation of non-performing loans will heighten transaction activity in the market over the coming months and we also recognise a number of value-add and core opportunities for more conservative sources of capital". 

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue).  The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide.  CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.  Please visit our website at www.cbre.com. 

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