In 2022, the hotel transaction activity in Spain reached €3Bn; a level only exceeded in 2017 and 2018 (record years). The total volume was 21% above 2021, despite the economic and political concerns. The rising popularity of resorts within hotel investments, as well as the continued attractiveness of major gateway cities with a strong leisure appeal, contributed to this significant growth.
Aligned with seasonal trends, Berlin’s hotel industry reported higher levels of occupancy and revenue per available room (RevPAR) month over month, according to preliminary March 2023 data from STR.
With much of a challenging Q1 behind us it feels to be an appropriate time to take stock and look forward to the rest of 2023. Hopefully, there is only a positive trajectory for hotel transaction market for the year ahead with the consensus being that H2 2023 will see more activity across the real estate market. With several factors at play, some new and some old, it will be interesting to see whether these expectations are indeed fulfilled...
The hospitality industry experienced many highs and lows across 2022 and as a sector, faced challenges including recovery from the pandemic, the impact of Russia’s invasion on Ukraine and the ongoing cost-of-living and energy crisis, the instability of government on the economy and rising interest rates. The sector has tried to remain resilient, in the knowledge some of these obstacles are continuing this year and will shape the outlook of the market as we progress further into 2023.
Aprirose, the real estate investment company, has acquired the freehold of an asset in Whetstone for an undisclosed price. The property is let to Travelodge with 18 years remaining on the lease.
Global travel technology company, OYO’s UK operations saw a 140% uplift in revenue or Gross Booking Value (GBV) in 2022, surpassing pre-pandemic levels of 2019. London emerged as the best performing market showing strong Y-o-Y growth followed by other regions such as Brighton, Cornwall, Great Yarmouth, Devon, Portsmouth, Plymouth, and the Midlands.
In 2022, German hotel investment volumes reached €2.0bn. This was 20% below the previous year and 42% short of the 10-year average. Transaction activity has been impacted by the rising cost of debt, inflation, recession fears as well as uncertainty around hotel pricing. Looking forward, investment activity is expected to gain more momentum in the second half of 2023, supported by a continued recovery of the operating markets.
Tourist demand in Vienna experienced a significant recovery. While international travel restrictions still had a diminishing effect on tourist demand in the Vienna hotel market in the first half of 2022, there were clear signs of improvement in the second half of the year. A market report by hotel specialist Christie & Co provides insights into supply and demand, and shows which hotel categories have come through the crisis best.
Aligned with historical trends for the market, Madrid’s hotel industry reported higher performance from the month prior, according to preliminary February 2023 data from STR.
The second half of 2022 saw transaction activity hampered as a result of rising costs of debt and economic instability. Transaction volumes declined by 32% compared to H1 2022, resulting in a yearly volume 15% lower than in 2021. Looking forward, we expect a slow start in 2023, with an uptick in transaction activity within the second half of the year, underpinned by rising investor interest and a healthy deal pipeline.
Following the turbulence of 2022, which disrupted the hotel sector’s recovery from the pandemic, 2023 welcomes a more settled investment market, according to the latest research from leading global property adviser Knight Frank.
The Business Travel Association (BTA) today publishes a new report based on analysis from CBI Economics, detailing the value business travel provides to the UK economy.
onefinestay, the world’s leading luxury private rental brand, is delighted to launch its latest collection of stunning homes in the beautiful region of Provence, France. The collection offers a striking range of villas, all fully furnished, to the brand’s impeccable level of luxury. The introduction to onefinestay adds a further destination to the brand’s ever-expanding array of homes in France, already including Paris, Cannes, St Tropez, as well as other sought-after destinations in southern Europe including Italy, Spain and Greece. The Cote D’Azur’s prime location, Provence, offers everything from cultural and historic sites to beautiful vistas of rolling lavender fields and vineyards, and the perfect central spot to discover the south of France.
The hotel transaction volume in Greater Paris reached €1.9Bn during 2022. This was 300% above 2021 but also 7% above 2019 level. The key driver were several major transactions in prime locations, with price per room exceeding €1M. Examples of landmark deals in 2022 include The Hoxton, and the Locke Paris.
In its latest analysis of the Finnish hotel market, hotel real estate expert Christie & Co shed light on how Finland as a whole, its capital region and key provincial markets have fared in 2022 compared to 2019.
The devastating 7.8- and 7.5-magnitude earthquakes that hit southeastern Turkey near Syria on Feb. 6 have killed more than 36,000 people, and the death toll continues to rise. The earthquakes hit predominantly residential, non-tourist areas of Turkey, but came at a time when the country's hotel industry appeared to be fully recovered from the global pandemic.
In its first January without restrictions since 2020, Amsterdam hotel performance showed a typical season slowing from the months prior, according to preliminary January 2023 data from STR.
Global travel technology company, OYO’s UK operations announced that it has added 40 hotels to its platform and doubled its revenue in 2022 vs 2021. OYO’s network hotels also saw a 50% jump in revenue per available room (RevPar) vs 2021 and a 110% jump in revenue per available room vs Covid (2020).
A very warm welcome to this latest edition of the Horwath HTL Poland Hotels and Chains report.