Back

The number of hotels for sale in the Balearic Islands skyrockets

The hotel market in the Balearic Islands is experiencing a significant increase in the offer of establishments for sale. According to the Diario de Mallorca, there are currently at least 100 hotels for sale in the region, positioning it as one of the highest levels in the country. 

Nationally, there has been a 27% increase in the number of establishments with a hotel license for sale at the end of August compared to the previous year, exceeding 1,300 ads. According to the real estate portal Idealista, the Balearic Islands stands out in this regard, with a growth of 23%, becoming the autonomous community with the largest number of hotels in "stock".

At the end of August, 1,346 hotel properties were advertised on real estate platforms in the archipelago, which represents an increase of 286 units compared to the same month in 2022. This offer has not stopped growing since the beginning of the coronavirus pandemic and has tripled in just two years.

On the other hand, the Balearic Islands closed last year as the holiday destination with the highest number of hotel purchase and sale operations throughout the national territory, mainly carried out by foreign investment funds. Specifically, the main international buyers were investment funds from the United States, the United Kingdom and Switzerland, according to the company Colliers. The total number of transactions carried out by these funds exceeded thirty and reached a value of one billion euros, a figure that expands considerably if other operations in medium-sized hotel chains are added. Numerous hotels on the islands have been acquired by international hotel chains, prominent hotel brands have made important investments on the island, such as Four Seasons (Hotel Formentor) and Mandarin Oriental (Hotel Punta Negra). Earlier this year, Virgin Group opened its first hotel in Mallorca and has plans to open another one in Ibiza. Ikos has also opened one of its all-inclusive resorts in Porto Petro.