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Hike of 155% in London hotel investment market for first quarter

14 April 2014 by
Hike of 155% in London hotel investment market for first quarter

The London hotel investment market achieved a 155% year-on-year increase during the first quarter of 2014, according to new figures from real estate company JLL.

Total investment in the London market for January to March was £527.8m, up by 8% from the final quarter of last year.

The largest source of investment over the past six months has come from within the UK, while Asian investors jumped from 0% to 33% between the two quarters.

George Nicholas, executive vice-president in JLL's hotels and hospitality group said that figures for the first quarter highlight the increasing interest in the London hotel property market.

"We expect to see more high net worth individuals and sovereign wealth funds targeting acquisition of trophy assets in London, an example of which was the recent purchase of the London Marriott Grosvenor Square by Hong Kong based fund Joint Treasure, from Strategic Hotels & Resorts.

"The key driver of increased Chinese and Hong King interest in to the UK is the slowing of the Chinese economy of its previous highs, and the restoring of confidence in the European capital markets.

"Intelligent capital always anticipates and chases the next cycle and it's no surprise to see Asian and Middle Eastern capital being assessed to the base of domestic funds deployed in the lodging sector in the UK."

UK most attractive market for hotel investment with £2b spent so far in 2013 >>

UK stays in top spot for hotel investment >>

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