Mid-Range Hotels Top Shopping List for Investors in Europe
“This is specifically interesting as outbound Chinese travellers discover markets like Spain. HNA can capitalise on this sales opportunity by marketing its airline brand and its new hotel brand affiliation with NH,” he stated. Mr Weinstein added that the hotel industry in Europe is ripe for investment from overseas, because stock in the sector is “potentially available at a great discount to replacement cost”, making such assets an attractive long-term investment. Meanwhile, this deal has advantages for NH Hoteles, too. HNA is reportedly planning to expand the hotel chain in China, developing a network of four-star accommodation providers across the nation.
According to figures published by BNP Paribas Real Estate, hotel investment volumes across Europe increased by 29 per cent during the first half of 2011, compared to the same six months in 2010. The UK saw the lion’s share of the money ploughed into the sector during this period, with transactions in the nation accounting for 42 per cent of the total amount invested. In addition, the firm noted that foreign buyers dominated the marketplace, with many looking for “high-profile trophy assets or distressed sales”.
Mid-Range Hotels Top Shopping List for Investors in Europe
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