Latin American capital bets on the spanish hotel sector
Spain has established itself as one of the most attractive destinations for hotel sector investments from Latin America. This trend, which began over a decade ago with the acquisition of luxury homes in the emblematic Salamanca district of Madrid and other exclusive areas across Spain, has gained momentum and is now expanding into other sectors.
Capital from across the Atlantic, particularly from Mexico and Brazil, has grown significantly, as noted by CBRE. In 2019, Latin America accounted for just 0.2% of total real estate investment in Spain; today, this figure has risen to 3.7%, with more than 30 transactions completed in the past year.
Mexico and Brazil lead investments in the spanish hotel sector
Since 2019, Mexico and Brazil have led investments in the Spanish real estate sector, contributing €1.003 billion and €340 million, respectively, and accounting for more than three-quarters of the total Latin American investment.
Although Argentina’s investment declined in 2024, it remains a key player, with a cumulative total of €287 million. Meanwhile, Venezuela has seen a notable increase in transactions, whereas Chile and Peru have maintained a smaller presence, investing less than €30 million combined since 2019.
Madrid at the center of investment
Madrid has become the primary destination for Latin American investment, accounting for more than 60% of transactions over the past five years and surpassing 75% in 2024. According to the consulting firm, a total of €1.125 billion has been invested in the Spanish capital over the past five years. Other key regions with high transactional activity include the Balearic Islands and Andalusia.
The spanish hotel sector: the most coveted
The hotel sector has emerged as the most attractive segment over the past five years, with a total investment of €709 million between 2019 and 2024, representing nearly 40% of the total capital invested. Following this, the office sector recorded €550 million, driven by a surge in activity over the last three years. The retail sector attracted €321 million, thanks to strong investment in shopping centers, while the living sector accounted for €179 million.
CBRE also highlights a “notable increase in the participation of Latin American investors in the residential sales market in Spain,” particularly focusing on buildings intended for renovation into luxury properties. The consulting firm has been involved in several recent Latin American capital investment transactions in Madrid, including the sale of the Zurich Seguros building on Calle Alcalá to the Mexican investment group BeGrand and the purchase of a building on Calle Antonio Maura in Madrid. The latter transaction was carried out by the same Mexican group in partnership with Admara Capital.
As Miguel Morales, Director of Foreign Operations at CBRE, points out, “2025 presents great opportunities for Latin American investors in Spain.” The recent surge in investments and the growing interest in strategic sectors indicate that Latin American presence in the Spanish real estate market will continue to expand in the coming years.
