Hotels for Sale in Tenerife
Interest in Tenerife hotels for sale has accelerated as hotel groups from around the world look for bargains within one of Europe’s most successful tourist markets.
Sandos Hotels and Resorts, who have properties in Mexico, Lanzarote and Costa de Sol have increased their portfolio by purchasing the five star San Blas Reserva Ambiental Hotel in the south of Tenerife.
Other deals in the making are likely to be concluded in the next few weeks and months.
A combination of factors has made Tenerife particularly appealing for hospitality groups looking for hotels for sale.
Price to earning ratios are better than they have ever been as Tenerife’s Hotel owners look back at a hard recession which hit tourism on the island hard.
Many of Tenerife’s existing hotel owners have had their fingers burned by investments in Spain’s crashing residential property market. This has worsened their financial positions
The result is that there are bargain hotel properties at all price ranges, tempting buyers from all over the world looking for an entrance into the lucrative Tenerife market.
- With its perfect climate throughout the year, Tenerife offers a destination both for winter sun and summer holidays.
- Close proximity and easy air links to Europe’s major cities ensure that Tenerife attracts short stay visits as well as tourists staying for longer holiday periods.
- Infrastructure for tourism is excellent and the island offers world class theme parks, cultural diversity and of course traditional beach holidays.
- Customer retention in Tenerife is one of the highest in the world, with repeat visitor rates exceeding 70%.
As the demand for European hotel rooms continues to improve and tourism recovers, the financial pressures on hotel owners in Tenerife is expected to ease off, reducing the quantity and quality of bargains on the market.
For more information about hotels for sale in Tenerife and the Canary Islands, contact us at FRINA Tenerife for the most extensive portfolio of properties for sale.
By Irina Saltmarsh
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