The year ahead is expected to be a buoyant one for hotel transactions according to Christie + Co, the specialist property agent for the hospitality industry.
Following a "torrid" four years for the company in which the recession decimated the number of hotels coming to market, the company has voiced renewed optimism for the sector in its Business Outlook 2014.
The forecast follows a year in which Christie experienced a 5.7% increase in property prices for hotels, alongside a rise of 4.7% and 3.3% for restaurants and pubs respectively.
One of the biggest deals of 2013 secured by the company was that of the 12-strong Menzies portfolio for around £80m to the Topland Group, which - together with the sale earlier in the year of Principal Hayley, Malmaison/Hotel du Vin and 42 Marriott hotels - has helped generate more confidence in the market.
"The hotel transaction market is linked into the general economy," said Hill. "Last year was a calmer year which created more stability and in turn, improved trading performances."
He went on to say that the strategies of the banks are set to boost the hotel market further this year with their disposal of non-performing loans.
"With the loan portfolio disposals, this should allow the banks to release funding for hotel investment - albeit more cautiously and selectively than in the days before the recession."
However, Andreas Scriven, director and head of consulting at Christie + Co, warned that with banks disposing of some of their major debts, there will be casualties in the sector.
Meanwhile, in the restaurant sector, the Business Outlook 2014 predicts that brands and private equity investment will dominate the scene.
New restaurant openings increased by over 11% during 2013, with private equity at a level not seen since before 2008.
Simon Chaplin, director and head of restaurants for Christie + Co, said: "Whether independent operators, and small local and regional groups, can keep pace and compete with the power of the private-equity-backed brands will be interesting to observe."
He went on to predict the emergence of a new array of brands offering regional specialist cuisines, while "brandless, imageless and dated traditional restaurant concepts" are likely to find themselves under pressure from "the broader food offering emanating from the higher quality pub chains".