Over a third of hotel buyers in 2012 were new entrants to the market, according to new research from commercial real estate company Colliers International.
The 2013 Hotel Snapshot shows that 34% of hotel purchasers had not previously owned a hotel, whilst the remaining purchasers were existing hoteliers growing their portfolios, those selling one hotel to acquire another and corporate buyers.
Julian Troup, head of UK hotels agency at Colliers International said: "A number of new buyers are now realising the opportunity to invest in the hotel market, having taken a long-term view on the improvement in real estate and recognising the immediacy of trading gains under their ownership."
The report also reveals that business closures in the hotel and leisure sectors were down last year, compared to 2011. Just 26% of hotel sales in 2012 were distressed transactions, and hotel and leisure insolvencies were down 18.7% in August 2012, compared to the previous year.
"Buyer and seller sentiment will greatly affect the flow of hotel transactional activity during 2013," said Troup. "In recent years we have seen a sluggishness and a reticence in terms of decisions being taken to sell hotels in the UK, but we expect an increase in activity throughout 2013."
Despite the challenging trading conditions during 2012, Collier International sold 96 hotels across the UK.
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