Automatic

🛈 The Spanish Parliament fears that the legislative proposal (PNL) will not succeed due to opposition from various parliamentary groups. The PP party criticizes the government for disregarding the chambers' decisions and highlights the tourism sector's significant unrest caused by a Royal Decree (RD 933/2021). The PP requested appearances by the Secretary of State for Security, Rafael Pérez Ruiz, and the Secretary of State for Tourism, Rosario Sánchez Grau, on Wednesday. They contend the RD is unnecessary, as it demands excessive information from tourists, causing distrust and potential damage to Spain's international tourism image. The PP alleges that the RD could transform hotel receptionists and travel agents into law enforcers, further complicating check-in processes and harming business operations.

🏨 Javier Arús from Azora participated in a panel discussing "Hotels as an investment asset: trends" at the Hospitality Real Estate Forum by Planner Exhibitions. The Spanish hotel investment market attracts long-term investors like sovereign and institutional funds, positioning Spain as a top choice in Europe. Nicolas Cousin of Christie & Co and Montse Rius of HIP highlighted the shift to long-term capital with the entry of sovereign funds. The sector's resilience to inflation and adverse cycles makes it more attractive for institutional portfolios, as seen in France, which is gaining momentum compared to the office segment. The transition represents a natural evolution from private equity to longer-term capital from sovereign funds and family offices, focusing on the vacation accommodation segment due to growing global tourism demand. The availability of capital is increasing, with diverse investors, including non-Spanish and non-bank financiers, strengthening the investor market. The trend towards long-term investment by pension funds and insurance companies is seen as a positive direction for the sector.