The number of hotels for sale in Spain dropped by 8% in August 2024 compared to the same period in 2023. Last year, there were over 1,300 hotels for sale, while this year, there are just over 1,200. More than 230 properties were removed from the market, but nearly 130 new hotels were listed for sale. This data is part of a report from idealista, which provides insights into the real estate market to assist in strategic decision-making.
This decline contrasts with the increase in hotel listings that began during the pandemic in 2020. The restrictions and reduced tourism during 2020 and 2021 led to a surge in hotel sales, peaking in the summer of 2023. However, the recent rebound in Spain’s tourism sector, attracting many investors, has shifted the trend, with expectations of surpassing previous records of foreign tourist visits.
Geographically, the highest concentration of hotels for sale is in nine provinces, accounting for over half of all listings. Alicante leads with 103 hotels for sale, followed by Málaga (88) and the Balearic Islands (84). Girona and Granada each have over 70 listings, while provinces like Valencia, Asturias, Barcelona, and Pontevedra have between 40 and 60.
Barcelona saw the largest drop in listings, with 45 fewer hotels for sale, followed by Las Palmas with 38 fewer. Significant declines also occurred in the Balearic Islands, Girona, and Madrid, each with over 20 fewer listings. In total, 21 provinces have reduced the number of hotels for sale.
Conversely, eight provinces maintained a stable supply, including Tarragona, Santa Cruz de Tenerife, and Granada. Meanwhile, 21 provinces saw an increase in hotel listings, with Murcia adding around 20 new properties and León, Valencia, Asturias, and Alicante seeing increases of 12 to 17 new hotels.
Alicante, with over 100 listings, stands out as the only province maintaining such a high volume of hotels for sale, surpassing other popular tourist destinations like the Balearic Islands, Málaga, and Girona, where demand for hotel acquisitions is stabilizing.
Peter Fabor is a hospitality entrepreneur with 15+ years of experience building niche businesses across hotels, coliving, coworking, retreats, and hospitality tech. He is the founder of Surf Office, Buy That Hotel, Hotel Nuggets, and Pingotel. His work focuses on identifying underserved hospitality markets and building businesses around them.