Service with a smile 21 February 2020 Tom Kemble of the Pass at South Lodge cooks up a pumpkin masterclass and shares why it’s important for chefs to meet their customers
In this week's issue...Service with a smile Tom Kemble of the Pass at South Lodge cooks up a pumpkin masterclass and shares why it’s important for chefs to meet their customers
Read More
Search
The Caterer

Europe helps drive growth in global hotel property market

01 November 2010 by
Europe helps drive growth in global hotel property market

Global hotel property deals could hit $18b (£11b) by the year end, up as much as 85% in terms of volume compared with last year, as investors return to the hotel market post-recession.

A new report by property agent Jones Lang LaSalle reveals that hotel transactions in the first three quarters of the year were up 60% at $12b (£7.4b) compared with 2009.

Europe, Middle East and North Africa was the most active region for the first three quarters of the year, recording $5.2b (£3.2b) of hotel sales (46% up year-on-year).

Arthur de Haast, Jones Lang LaSalle Hotel's global chief executive, said: "The positive investor sentiment for hotel real estate assets witnessed at the start of the year has continued and even accelerated, resulting in a more active hotel investment market.

"We also see a strong increase in portfolio deals, showing a volume of about $3b for the year in September, double the volume recorded a year before."

Haast added that international capital was featuring strongly in Europe, with domestic capital accounting for just over a third of deals (35%) in the period and inter-regional investors contributing another 13%, with the remainder coming from investors in the USA, Middle East and North Africa.

Hotel and leisure insolvencies increase in September >>

UK leads the way with hotel property sales >>

UK is driving recovery in hotel investment >>

By Chris Druce

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.caterersearch.com/tabletalk

Caterersearch.com jobs

Looking for a new job? Find your next job here with Caterersearch.com jobs

[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!