The Europe, Middle East and Africa (EMEA) region has experienced a significant increase in hotel investment volumes during the first half of the year, new research has shown. A report from Jones Lang LaSalle noted that investment in the sector has risen by 73 per cent in comparison to the same period in 2010, taking it to 3.37 billion euros (2.96 billion pounds).
EMEA chief executive officer for Jones Lang LaSalle Hotels Mark Wynne Smith noted that the average size of a single asset deal also jumped by 27 per cent and now stands at 46 million euros. "The majority of investment this year has originated within Europe as investors continue to feel more assured about cross border deals," he commented.
In terms of the hotel markets being targeted by investors, France came out on top, followed by the UK, Russia, Germany and Spain. Mr Wynne Smith stated that his firm is "confident of an even stronger second half of 2011".
The European Hotel Market Property Report published by BNP Paribas earlier this year also predicted a recovery in the sector during this year, with an improvement in the revenue per available room, as well as an increase in tourism levels, cited as factors that will contribute to the growth.