The Collers report issued this Tuesday is very good because it shows that investment funds are modernizing the destiny and removing filthy employees from running businesses like family farms as was the case until 2008. Blackstone, Apollo Global Management, Brookfield Asset Management, LaSalle Investment Management are just some of the many funds with interests in the south of Gran Canaria. The pull of tourism is perceived in businesses such as slot machines and sports betting such as Sportium in areas such as Playa del Inglés and which are owned by Blackstone.
These funds have invested in the tourism industry because they believe it is an attractive asset with strong growth potential. Southern Gran Canaria is relatively resilient to economic downturns and has a consistent track record of generating income. Additionally, the hotel industry is constantly evolving, with new types of hotels and concepts being developed all the time. This gives investors the opportunity to generate attractive returns through investing in new trends and technologies.
Portfolio operations have been the protagonists, registering a volume of 2.615 million euros, equivalent to 62% of the total, and which include GIC's operation on HI Partners and the portfolio acquired by ADIA, made up of 17 hotels, a good part of them in the south of Gran Canaria. Both operations have been led by capital of foreign origin (Southeast Asia and the Middle East), thus confirming the internationalization of our hotel market, which is increasingly attractive on a global level.
In 2023, hotel investment in Spain reached 4.248 million euros (considering existing hotels, properties for conversion to hotel use and land for hotel developments), according to data from Collers' annual report on Hotel Investment in Spain.
Hotels have positioned themselves as the most in-demand assets in the national real estate market, accounting for 38% of the total investment. Furthermore, our hotel market has achieved first place in the hotel investment ranking in Europe, behind relevant players such as the United Kingdom or Germany, usually in the top positions.
In 2023, 171 hotels and 21.748 rooms were transacted and 34 operations were carried out on land for the development of hotels and properties for conversion into a hotel. The vacation sector, with the Canary Islands and the Balearic Islands as investment leaders, has attracted 65% of the total volume. In each of the archipelagos, 39 operations have been carried out, which together represents 46% of the national investment.
