{"id":9191,"date":"2022-12-19T00:24:21","date_gmt":"2022-12-18T22:24:21","guid":{"rendered":"https:\/\/phghr.com\/en\/?p=9191"},"modified":"2026-04-22T15:36:31","modified_gmt":"2026-04-22T13:36:31","slug":"the-rise-of-hotel-asset-management","status":"publish","type":"post","link":"https:\/\/phghr.com\/en\/the-rise-of-hotel-asset-management\/","title":{"rendered":"The Rise of Hotel Asset Management"},"content":{"rendered":"\t\t
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The Rise of Hotel Asset Management<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Dolce by Wyndham, Sitges<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Three main reasons explain the growing popularity that hotel asset management has been experiencing in Spain in recent years:<\/h6>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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1. Eroding confidence in lease agreements<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Following the economic crisis triggered by Covid, it has once again become apparent \u2014 as it did in 2009 \u2014 that lease agreements are a tool that does not guarantee absolute security for hotel owners.<\/p>

Contrary to what the legal definition of a lease might suggest, rental contracts only prove attractive for owners during positive phases of the economic cycle. However, given the inherently cyclical nature of the hotel and tourism sector, these contracts reveal themselves to be significantly inefficient when it comes to meeting the economic expectations of hotel asset owners during the “trough” phases of the cycle.<\/p>

In 2009, there was a proliferation of legal disputes between owners and operators for this very reason, and we witnessed the same situation again during 2020.<\/p>

The explanation is straightforward. It makes no business sense to attempt to guarantee linear or growing returns on an asset over time while the national economy is slowing down or contracting.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Hilton Garden Inn, Seville<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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2. Growing institutional investment in the hotel sector<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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The gradual increase in institutional investors entering the Spanish hotel market is highlighting the additional returns that management contracts offer compared to lease agreements. Leases erode the owner’s gross operating profit by between 20% and 30% relative to a management contract.<\/p>

Investors are progressively coming to the conclusion that it makes more economic sense to accept exposure to hotel business risk \u2014 alongside a specialist hotel asset manager \u2014 than to sacrifice 20% to 30% of returns on an asset. Hotel asset holders such as banks, insurance companies, foundations, family offices and sports clubs are increasingly turning to hotel asset management as a tool to overcome the inefficiencies of lease agreements.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Gran Hotel Isla de La Toja<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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3. The growth of hotel franchise agreements\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Finally, the progressive expansion of international hotel brands in Spain under the franchise model is reinforcing the separation between asset management and hotel brand operations.<\/p>

It is becoming increasingly clear to owners that the most efficient management structure is achieved through a local cost base combined with a powerful global franchised brand. Having a hotel asset manager alongside further prevents costly mistakes, reduces the learning curve, and ensures a dialogue on equal terms between owner and brand.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Hotel Senator Mar Menor<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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\n\t\t\t\t\tShare this article<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Success case study: Dolce by Wyndham, Sitges<\/a><\/h3>
Investment fund Oaktree Capital selected PHG as asset managers for a 12-month project with<\/div> 01\/01\/2015<\/span> Case study<\/a><\/span> <\/span> \n <\/div>\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Hotel Due Diligence<\/a><\/h3>
The liquidity accumulated by certain independent owners \u2014 highly professionalised and with a clear<\/div> 11\/18\/2025<\/span> Articles<\/a><\/span> <\/span> \n <\/div>\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Hotel Repositioning: Unlocking Asset Value<\/a><\/h3>
PHG outlines the key drivers of hotel repositioning in Spain<\/div> 07\/01\/2025<\/span> Articles<\/a><\/span> <\/span> \n <\/div>\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Luxury, Food and Beverage Return Madrid to Center of Spanish Hotel Recovery<\/a><\/h3>
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Yuste moderates all-inclusive debate at AOHIS investment conference<\/a><\/h3>
The repositioning of all-inclusive resorts ads more sophistication to this market segment<\/div> 02\/01\/2024<\/span> News<\/a><\/span> <\/span> \n <\/div>\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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Three Key Aspects of Hotel Investment<\/a><\/h3>
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Three main reasons explain the growing popularity that hotel asset management has been experiencing in Spain in recent years.<\/p>\n","protected":false},"author":1,"featured_media":9196,"comment_status":"closed","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[],"class_list":["post-9191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles"],"yoast_head":"\nThe Rise of Hotel Asset Management - PHG EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/phghr.com\/en\/the-rise-of-hotel-asset-management\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Rise of Hotel Asset Management - PHG EN\" \/>\n<meta property=\"og:description\" content=\"Three main reasons explain the growing popularity that hotel asset management has been experiencing in Spain in recent years.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/phghr.com\/en\/the-rise-of-hotel-asset-management\/\" \/>\n<meta property=\"og:site_name\" content=\"PHG EN\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-18T22:24:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-22T13:36:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/phghr.com\/en\/wp-content\/uploads\/2026\/04\/1671281004305.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"741\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/phghr.com\/en\/the-rise-of-hotel-asset-management\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/phghr.com\/en\/the-rise-of-hotel-asset-management\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/phghr.com\/en\/#\/schema\/person\/2ed3f31570fa048e546fe5165e4aba5b\"},\"headline\":\"The Rise of Hotel Asset Management\",\"datePublished\":\"2022-12-18T22:24:21+00:00\",\"dateModified\":\"2026-04-22T13:36:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/phghr.com\/en\/the-rise-of-hotel-asset-management\/\"},\"wordCount\":537,\"publisher\":{\"@id\":\"https:\/\/phghr.com\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/phghr.com\/en\/the-rise-of-hotel-asset-management\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/phghr.com\/en\/wp-content\/uploads\/2026\/04\/1671281004305.jpeg\",\"articleSection\":[\"Articles\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/phghr.com\/en\/the-rise-of-hotel-asset-management\/\",\"url\":\"https:\/\/phghr.com\/en\/the-rise-of-hotel-asset-management\/\",\"name\":\"The Rise of Hotel Asset Management - 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