OD International Hotels has closed the sale of the OD Talamanca hotel in Ibiza, a five-star establishment with 117 rooms located in the bay of Talamanca.
In a press release, the chain explained that OD International Hotels is selling its stake in the Ibizan hotel while continuing with a 25-year management contract under the Ocean Drive brand. The buyer has been a group of private investors who continue to entrust the management of the asset/hotel to the OD Hotels group.
The operation has been advised by CBRE, a company specializing in real estate consultancy and services. Its Director of Hotels in Iberia, Jorge Ruiz, explained that this transaction “is a reflection of the attractiveness of the hotel sector as one of the segments that is attracting the most investment interest due to record tourism data and the positive evolution of the hotel industry’s operating results. Investors are increasingly focused on the luxury segment due to its more resilient and inelastic nature, there is a clear polarization in the sector. The continued expansion of tourism and strong operating performance will continue to drive investment activity.”
According to CBRE data, the hotel sector has positioned itself as the main focus of investment between 2017 and 2024 in Spain, accumulating €24 billion, the highest volume among all asset typologies.
For this year, the forecast is that the hotel sector will represent between 20-25 percent of total investment, above the European average of 10-15 percent.
Precisely, Spain was positioned as the most attractive country for investment in 2024. At the end of the third quarter, the hotel sector is the second in terms of investment volume, with 1.7 billion euros up to September, 21 percent of the total amount transacted in Spain.
For the full article, please visit Diario de Ibiza website here.