Number Of Spanish Hotels For Sale Increases Amid Pandemic
The number of hotels for sale in Spain surged by 19% in October compared to March, with most of those on offer being in holiday hotspots, leading property portal Idealista has said.
Spain's economy is heavily hospitality dependent, and lockdowns to contain the coronavirus have hit hard.
In the Balearic Islands, the number of hotels on sale jumped by 84% over the period, while for Andalusia the increase was 45%. Overall, 557 hotels were on sale in the country as of October, with 101 of them being in Catalonia, Idealista said.
Closures And Bookings
Almost a third of Spanish hotels were closed in October, according to data from Spain's National Statistics Institute.
Registered hotel bookings were 83% lower last month than during the same period last year, official data showed earlier this week.