The European hotel real-estate outlook is getting better with every trophy asset changing hands, according to a statement from Deloitte, covered in HotelNewsNow yesterday.
Nick van Marken, global head of advisory, tourism, hospitality and leisure at Deloitte, said in an interview things have “improved quite remarkably” but that then again, the hotel industry has always been resilient.
“From a transaction perspective, there is no doubt there is a view within the investment community that there is opportunity to put money back to work,” he said. “The slight challenge has been the absence of anything to buy.”
With an absence of leverage and finance, particularly debt, there hasn’t been much activity since 2007.
Read the article in full at HotelNewsNow