Massive growth in Spanish investment firms expanding investment into hotel sector

Spanish industrial firms expand hotel sector investment
García Baquero acquires Tivoli La Caleta in Tenerife
Blackstone prepares HIP IPO valued at €6,000m
HIP portfolio includes 62 hotels and 20,000 rooms
Capital increase of €700m planned

Spanish industrial companies are expanding their presence in the hotel sector, with firms including García Baquero and Técnicas Reunidas among the latest to increase investment in hospitality projects. The trend follows earlier moves by groups including Gallardo, Cosentino, Fuertes and El Corte Inglés. The shift reflects growing confidence in tourism as a stable long-term asset class. Separately, Blackstone plans to list its hotel company HIP on the stock market in October, with a property portfolio valued at €6,000m and a capital increase of €700m.

García Baquero, the cheese manufacturer, entered the hotel market by acquiring the Tivoli La Caleta hotel in Tenerife. Técnicas Reunidas, the engineering firm, has scaled up its financial engagement in hospitality and real estate ventures. Cosentino, the surface manufacturer, expanded into property development via the Macenas resort complex project. The strategy follows a path previously cleared by major Spanish corporations including El Corte Inglés, Grifols and the Gallardo family, which have established dedicated real estate arms to secure hotel properties across Madrid, Barcelona and the Canary Islands.

Blackstone is preparing an initial public offering for Hotel Investment Partners by late October or early November 2026, with a filing expected with the Spanish stock market regulator. HIP holds a portfolio of 62 hotels representing nearly 20,000 rooms across Spain, Portugal, Italy and Greece, with 78pc of rooms located by the sea and 94pc rated 4 or 5 stars. The company is 65pc owned by Blackstone and 35pc by Singapore sovereign wealth fund GIC.