Mallorca hotels: A Meliá room worth the same as a 90 square metre home

Meliá Hotels International luxury suite in London

A Meliá luxury suite in London.

Andrew EdePalma13/12/2022 18:19

The US real estate services and consultancy group CBRE has valued Mallorca-based Meliá Hotels International assets at 4,641 million euros, 5.8% more than in 2018. The value of its rooms has gone up 21.2%, the average value being 307,275 euros. This is more or less equivalent to the current market price of a 90 square metre home in the Balearics. In 2018, the average value of the rooms was 253,588 euros.

An exchange of assets since 2018 has proved profitable for Spain's leading hotel chain, which owes much of its success to the choice of key locations in the tourism sector in Spain, such as Palma, in Europe (e.g. London and Paris) and in Mexico and the Caribbean.

The group's 27 establishments in Spain, 4,747 rooms, constitute almost 32% of the total value of the assets: 1,286 million euros. These are followed by the nine hotels and 2,570 rooms in Mexico (990 million euros, 24.5% of the total value); the eight with 3,101 rooms in the Dominican Republic (884 million, 22%); and the eight hotels in the rest of Europe, with 1,458 rooms (766 million, 19%). The remaining three per cent of the total value of owned hotel assets are in five hotels in South America.