Can a foreign investor buy a hotel directly?

Yes — no nationality restrictions. Most transactions are share deals via Spanish SL holding the asset, with foreign buyers using a Spanish holding company for tax efficiency.

What's typical financing?

Spanish banks lend 50–65% LTV on stabilised hotel assets at 4.5–6.0% (2026). Construction / repositioning deals require 35–50% equity, often with mezzanine layered above bank senior.

Is RevPAR still growing?

Yes, but moderating. 2024–2025 saw 8–12% growth; 2026 is tracking 4–6%. Future returns depend more on operational improvement and asset selection than market beta.

Business

Hotel Investment on the Costa Blanca

Boutique hotels, hostels, B&Bs, apart-hotels and resorts have all hit record RevPAR in 2024–2026. Limited new supply in protected coastal zones, sustained northern-European demand and a structural shift toward longer stays make the Costa Blanca one of Europe's healthier hotel markets — for operators who pick the right format and location.

Last updated 1 June 2026

Market by format

Format	Rooms	ADR (2026)	Occupancy	GOP margin
Boutique town hotel	12–30	€140–€240	68–78%	32–42%
Resort hotel (4-star)	150–350	€110–€180	72–82%	26–34%
Apart-hotel	40–120	€95–€160	70–82%	30–38%
Hostel / poshtel	20–80 beds	€28–€55/bed	65–78%	20–28%
Rural / agroturismo	6–18	€110–€200	55–70%	22–30%
Beachfront 5-star resort	180–400	€280–€650	70–80%	30–40%

Coastal-zone supply moratoria are a moat

Several municipalities (Calpe, Altea, Moraira parts of Teulada) have effectively halted new hotel licences in their core tourist zones. Existing licences trade at material premiums — and operators inside the moratorium benefit from constrained competition for 10+ years.

What capital actually buys

✦€1.5–€4M — small boutique (12–25 rooms) in inland village or secondary coastal town.
✦€4–€12M — established 4-star (60–120 rooms) in tourist town with operational history.
✦€12–€40M — beachfront 4-star or upscale apart-hotel (120–250 rooms).
✦€40M+ — 5-star beachfront resorts and major resort assets.
✦€60–€180k/key is the typical 2026 transaction range; coastal 5-star reaches €350–€600k/key.

Operating models

Owner-operated: highest margin (32–40% GOP), highest workload, hardest exit. Best for 12–35 room boutiques with hands-on founders.

Management contract (Marriott, Accor, Iberostar, Meliá, Barceló): 2–4% base + 8–12% incentive fee. Best for 80+ room properties needing distribution muscle.

Lease to operator: 18–25% of revenue or guaranteed rent. Removes operational risk but caps upside.

Hybrid (independent management company): 3% base + 8% incentive without brand royalties. Growing rapidly with mid-size assets €4–€15M.

Trends shaping 2026–2030 returns

✦Longer average stays (4.6 nights vs 3.1 pre-pandemic) — better operationally, but requires deeper F&B and concierge.
✦Bleisure and digital-nomad mid-stay segment (15–45 night bookings) — strong for apart-hotels with workspace.
✦Wellness add-ons drive 18–25% RevPAR uplift when integrated, not bolted on.
✦Sustainability certifications (Biosphere, LEED) now influence corporate and TUI-channel placement.
✦Energy efficiency capex: €18–€35k/room retrofit pays back in 3–5 years on current Spanish energy prices.

Business hub

All operating-business routes.

Beach clubs

Adjacent hospitality cashflow.

Restaurants

F&B inside or outside the hotel.

Tourism

Excursions and tour overlay.

Beachfront property

Property-side beachfront analysis.

Commercial property

Hospitality-as-real-estate.