UK leads international hotel property boom | 5 February 2014
The UK is driving significant growth in the number of hotel investment transactions taking place in Europe, Africa and the Middle East, it has been claimed.
According to figures from commercial property firm Jones Lang LaSalle (JLL), the UK saw £2.8 billion worth of hotel investment in 2013, representing 37 per cent of the three regions’ combined total.
The authors of the Hotel Investment Outlook report also expect the growth to continue throughout the next 12 months. They predict that a further 20 per cent increase will see the transaction values total reach £9.8 billion before the end of 2014.
John Hubbard, the Northern Europe CEO of JLL’s Hotel & Hospitality Group, believes that things are looking good for the sector. He was quoted by worldpropertychannel.com as saying: “Although some markets are at different stages of the recovery curve, underlying sentiment is much more positive, leading to increased interest in hotel investment.”
It is thought that economic improvements in Europe have played a significant part in the upturn, with more lenders ready to offer investors help with funding.
According to traveldailynews.com, France was the second biggest contributor in 2013, with an 18 per cent share of the total. It has also been suggested that Germany will be an investment hotspot this year.
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