The coronavirus pandemic has taken a heavy toll on Spain's hotel sector, hence the number of establishments seeking buyers has increased considerably.
The Idealista property portal lists more than fifty hotels in Malaga province which are advertising their sale on the platform. The figure is 33 per cent more than just a year ago.
Most are small establishments, known as 'boutique' hotels.
The increase registered by the Costa del Sol is above the national average of 30 per cent, and Malaga province is in third place by the number of hotels for sale, only preceded by the Balearic Islands and Barcelona, with 67 and 60 establishments, respectively.
The property platform also points out that Andalucía is also the Spanish region in which the number of hotels offered for sale has grown the most this year, with 45 more establishments for sale than a year ago, followed by the Canary Islands, with 28 more hotels; Valencia, with 24; Catalonia, with 19, and the Balearic Islands and Galicia, with 17.
Idealista specifies that they have hotels listed for sale throughout the Spanish regions, although practically half of them are concentrated in Andalucía, which has 135 advertisements; Catalonia, with 113; and the Balearic Islands, with 67.
In the case of the Costa del Sol, most of the establishments seeking a buyer fit the profile of 'boutique' hotels, with around twenty rooms. In terms of location, they are distributed throughout the province, although they are concentrated along the west strip of the Costa del Sol.
Standing out is an establishment in the old town of Marbella, which is selling for 1.6 million euros, or another in Benalmádena, for 2.7 million, which is advertised as a “modern and luxury boutique hotel with 17 fully luxurious rooms, fully-equipped and furnished”. This property is located 100 metres from the beach. Nearby, in Arroyo de la Miel, another establishment is advertised, which is not finished, and which has 22 rooms in the heart of the town. The asking price is 1.2 million.
One of the most expensive offers, for three million euros, is for a four-star hotel in Mijas Costa. There are 24 rooms, dining room, restaurant, business centere and spa, with heated pool, sauna and Jacuzzi, as well as green areas and a golf course.
Also, in Malaga city, for almost one million euros, you can pick up a unique villa built in 1947, completely renovated in 2002 as a two-star hotel and that has views of the Gibralfaro and the city centre.
Several of the hotel owners, who do not want to be identified, agree that the impact of the pandemic has been the final straw that has ruined their business plans.
Idealista specifies that “on 1 August 1, 2021, a total of 639 establishments that recognised having a hotel license were listed on the portal, while a year earlier that figure stood at 490. The increase has been noticed more strongly in the coastal provinces, registering 44 per cent more hotel real estate supply than a year ago, going from 323 hotels to 465.”