Spain has overtaken Britain as the country in Europe where the major hotel chains want to invest, a state of affairs which is clearly evident in Mallorca. A recent survey said that Spain had toppled Britain from the hot spot and Mallorca is enjoying major investment from the big hotel chains.
Top of the list is the Four Seasons Mallorca Resort in Formentor (formely the Hotel Formentor) which has been extensively refurbished and is due to open this summer by the Canadian group, in which Microsoft founder Bill Gates is one of the major shareholders.
The Virgin Group of Sir Richard Branson opened a hotel in Banyalbufar last summer and has since announced plans to add a new hotel on the same property. The also British owned Mandarian Oriental Hotel Group is transforming the Hotel Punta Negra in Bendinat into a luxury resort and and is due to open next year.
Travelodge, the British discount hotel chain has announced plans to open a city centre hotel in Palma. Two years ago the London based IHG Grouped opened the Hotel Kimpton in Santa Ponsa. A number of City of London based investment funds are also being used to buy Mallorca based hotels. A sizeable number of the top hotels in Mallorca are now in foreign hands.
Mallorca is considered to be a safe investment area by international hotel chains, a trend which looks set to continue.
2 comments
To be able to write a comment, you have to be registered and logged in
Maybe all the more reason to look to the tourism model and control the growth of hotel ‘room’ provision, so that the island isn’t swamped. People won’t want to come if the island becomes totally saturated. Hoteliers will feel that in their pockets too - but it will all be too late. Best take action to protect that golden island goose. Food for thought.
I wasn't aware that "Britain" was any kind of a hotspot for hotel investment. Maybe London...Otherwise it's not a particularly attractive travel destination. Maybe for that quirky English quaintness, monarchy and all that (?) But yes, Spain (and especially Mallorca) still has huge unrealised potential. And increasing demand. No surprise there.