Due to the lack of tourists, Spanish hotel owners are currently at a loss. As a result, more and more hotels have gone on sale in recent months, according to figures from Idealista, the Spanish equivalent of Funda.
The number of hotels on sale rose 19 percent in October from the start of the corona crisis in March. A total of 557 hotels were for sale, of which 101 in Catalonia.
Especially in the popular Spanish seaside resorts there are many for sale signs, according to Idealista. In the Balearic Islands (known from Ibiza and Mallorca), 84 percent more hotels were offered for sale compared to March, and in Andalusia there were 45 percent more.
The urge to sell is being fueled by the corona crisis. The Spanish economy relies en masse on tourists, but they can hardly come to Spain in Corona time. Many hotels were also forced to close due to government measures.
In October, almost one in three hotels was closed, according to figures from the Spanish National Statistics Office. The number of overnight stays booked was 83 percent lower compared to October last year.
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