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    Tenerife Business » Useful Information » Buying a Business in Tenerife » The Trouble with Hotels for Sale in Tenerife
Updated: 03-07-2010

The Trouble with Hotels for Sale in Tenerife

The trouble with buying hotels for sale in Tenerife has been finding them! Until recently investors looking for hotels in Tenerife have had difficulty in finding out what properties may be for sale, and even more problems finding information about them. Fortunately, we are happy to announce that these are problems of the past.

 

An investor searching the internet will find few (if any) hotels in Tenerife advertised for sale and overseas buyers can become frustrated by the apparent lack of opportunities available. Initial investigations are likely to conclude that there are simply no hotel properties for sale.

 

The reason for this is simple. Almost every hotel owner on the island who wishes to sell a property will not want it advertised to the general public. General knowledge that a hotel is for sale can affect the relationships and contract negotiations that hotel owners must forge with tour operators, local authorities and suppliers.

 

Instead hotel owners have preferred the more traditional ‘word of mouth’ method to get their hotel sold. They’ll tell a trusted lawyer, a professional colleague... perhaps even their wife’s hairdresser will also know. But they won’t broadcast the news.

 

This used to work perfectly well in the past when most hotels were bought and sold between a small number of Spanish hospitality groups. But the system has been showing its age for some time.

 

As new foreign buyers become interested in the hotels for sale in Tenerife, there are few resources they can turn to. The island is a close knit community and an outsider trying to penetrate the wall of silence it can be close to impossible.

 

A usual tactic that overseas investors employed was to hire a lawyer in Tenerife and ask him to search his own network of contacts. In most cases, this yielded only one or two hotels that may be for sale but they were unlikely to be the style or budget that the buyer was looking for.

 

The result was that buyers were more likely to become frustrated and simply look for hotels for sale somewhere else!
In order to solve these problems for both buyers and hotel owners, FRINA Tenerife have spent considerable time and effort in building a portfolio of hotels for sale in Tenerife.

 

We are now in position to offer a wide range of properties to suit most budgets. We still have not persuaded hotel owners to advertise their properties openly, but we are able to disclose information to qualified enquirers. And of course, we can offer the luxury of being able to find all hotels for sale in Tenerife from just one place... saving weeks of work and some hefty lawyer’s bills!

 

If your company is looking for a hotel for sale in Tenerife, or indeed on any of the Canary Islands then please do get in contact with us.
 

By Irina Saltmarsh


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