2022-08-04-莱坊-Spain_Hotels_Snapshot_Q2_2022_June_2022_2页_787kb

Hotels Snapshot Summary - Q2 2022

Core Content

This document provides an overview of the hotel sector in Spain during the second quarter of 2022, highlighting key performance indicators and investment activity. It also includes information about notable hotel transactions and market insights from Knight Frank Research.

Main Trends and Performance

Overnight Stays

• The number of overnight stays in Spain during Q2 2022 reached over 90 million.
• This represents a 255% increase compared to the same period in 2021.
• The level is close to pre-pandemic levels, indicating a strong recovery in the tourism sector.

Average Daily Rate (ADR)

• ADR for June 2022 was ~106€, a 25% increase compared to June 2021.
• The annual growth for ADR across the second quarter was +23% compared to the previous year.
• By hotel category, 4 hotels* had the highest growth of 50%, followed by 5 and 2 gold** with ~30% growth, and 3 and 2 silver** with ~30% growth.

Revenue per Available Room (RevPAR)

• RevPAR in June 2022 reached €74.2, a 100% increase compared to June 2021.
• The annual growth for RevPAR was +104% compared to the previous year.
• Madrid had the highest variation, with a 190% increase compared to the previous year, followed by Catalonia and the Basque Country with over 150% increases.

Investment Activity

• Total investment transacted in Q2 2022 was ~€430M, leading to ~€1,600M in the first six months of the year.
• This is ~50% more than the first half of 2021, marking one of the best half-years in recent years.
• Madrid accounted for ~70% of the total investment in the quarter, followed by Barcelona at ~16%.
• The average sales price per room in Q2 2022 was ~€260,000, similar to the same period in 2021.

Key Transactions

• Hotel Madrid Princesa 4*: Purchased by Brookfield for €175M from Colony NorthStar, with 424 rooms.
• Hotel Florida Norte 4*: Purchased by Round Hill for €90M from Grupo Faranda, with 400 rooms.
• Hotel Senator Barcelona 4*: Purchased by Atom Hoteles for €25.5M from an unknown vendor, with 213 rooms.

Market Insights

• The hotel sector in Spain is showing a positive trend in Q2 2022.
• British buyers accounted for ~43% of the transactions in the quarter.
• Investment funds were the main buyers, making up ~80% of the transactions.
• The impact of the pandemic is still a consideration, and market activity remains affected by the ongoing uncertainty of the COVID-19 outbreak.

Contact Information

• Elaine Beachill
  Director of BTR, Retail & Hospitality
  +34 600 919 016
  Elaine.Beachill@es.knightfrank.com

• Isabel Rodriguez-Legorburu
  Senior Hospitality & Retail Capital Markets Consultant
  +34 600 919 091
  Isabel.Rodriguez-Legorburu@es.knightfrank.com

• Rosa Uriol
  Head of Research
  +34 600 919 114
  RosaUriol@es.knightfrank.com

Recent Publications

• Wealth Report 2022
• Hoteles 2021-2022

Reports Availability

• Spanish: knightfrank.es/investigacion-de-mercados
• English: knightfrank.com/research

Disclaimer

• This report is for general information only and is not to be relied upon.
• Knight Frank España, S.A.U. does not accept responsibility or liability for any loss or damage resulting from the use of this document.
• Reproduction of the report is not permitted without prior written approval.