Spanish Hotel Mergers Expected as Pandemic Keeps Tourists Away
- Plunge in business may spur greater industry consolidation
- Increase in infections delays recovery for Spain’s hoteliers
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Spanish hotels, blighted by empty beds during the pandemic, may find their best way out of the crisis is to sell up or buy rivals, industry officials said.
“There are going to be opportunities to sell and the hotel chains are going to be very attentive to that,” said Javier Jimenez, head of Spain’s Association of Hotel Directors in the Costa Blanca region, which includes the resort towns of Benidorm, Denia and Torrevieja.