Majorca tourism
Viewpoint: Winds of change
Perhaps the winds of change are blowing through the industry
“Foreign investors and companies are buying big slice of the tourist industry...” | R.L.
Palma19/08/2021 10:17
Foreign investors have arrived on Majorca in force snapping up hotel chains and opening new businesses. A quick glance at the island´s top hotels and you will discover that the majority are foreign owned. This week the Hyatt Group bought 16 local hotels, the Four Seasons Group has recently purchased the Hotel Formentor, Sir Richard Branson is building a new hotel in Banyalbufar and InterContinental Hotels Group is constructing their first hotel on the island in Santa Ponsa.
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3 comments
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But where will all these foreign investors be paying their taxes?
I don't know this as fact, but with one summer season non-existent and this one poor at best I suspect that a lot are distressed sales snapped up on the cheap.
I don't know this as fact, but with one summer season non-existent and this one poor at best I suspect that a lot are distressed sales snapped up on the cheap.