New research from Savills has given a Top 10 list of European cities for hotel investment, with Dublin, Milan and Madrid taking the first three positions. The analysis ranks cities according to such factors as the overnight visitor market, GDP and employment growth forecasts, stock levels relative to demand and indicative prime yields as of Q1 2017. According to Tim Stoyle, head of hotels valuation at Savills, the analysis showed that a number of cities in Europe offer good prospects going forward in respect of the outlook for operational performance. “Top-ranking Dublin, for example, has been one of the best-performing European cities in terms of RevPAR [revenue per available room] growth over recent years,” says Stoyle, “and this looks set to continue as new development remains constrained.” Rob Stapleton, director in the hotels team at Savills, adds: “Across Europe, we are seeing increasing interest from investors looking for both the income and capital valu