The Spanish hotel sector has suffered because of the pandemic, with Deloitte warning that the impact on its earnings will have a direct impact on its real estate assets. The company writes that after a period of near paralysis, hotel assets could become the focus of numerous deals. In a survey by Deloitte, 40 percent respondents predicted investors would focus on buying companies or assets now under financial pressure while 22 percent think that investors will focus on the acquisition of existing debt.
In addition, 19% believe that many of the operations will focus on the repositioning of assets that have the potential for improvement. Most respondents (62 percent) were of the opinion that recovery would take place on the islands within 12 to 28 months. Urban destinations will in the opinion of 75 percent of those polled take up to two years to recover. When it comes to the MICE segment (Meetings, Incentives, Conventions and Exhibitions), 58 percent predicted it would take 24 months to achieve a full recovery.
