Hotel investors sleep soundly
Investors could be active investors in hotels in 2013. According to Savills, the hotel sector will have stronger investment volumes this year, especially in the United Kingdom and the United States.
“2013 is set to be a very strong year for the UK hotel investment market and could exceed £2 billion [€2.4 billion],” notes Robert Seabrook, head of Savills UK hotel investment. “The market will continue to be driven by overseas investors, especially from Asia Pacific countries and the United States, who accounted for 79 percent and 16 percent, respectively, in 2012.”
A prime example of the trend is InterContinental Hotels Group’s recent agreement to sell its leasehold interest in the InterContinental London Park Lane to Constellation Hotel (Opco) UK SA, an affiliate of a Middle Eastern private investment group, for £301.5