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Opinion Articles

Opinion Article

Hotel Market Beat 2025 H1 - Ireland

The Irish hotel investment market remained strong in the first half of 2025, with transactions totalling around €375 million. Major Dublin deals dominated activity, including the €86 million sale of the Ruby Molly Hotel by ESR Group to German investor Deka Immobilien, leased to Ruby Hotels Group. The Fleet Hotel was also acquired by the Lanthorn Group for TMR Hotel Collection. Beyond the city centre, the Grand Hotel in Malahide, the Marine Hotel in Sutton, and the Radisson Blu at Dublin Airport all changed hands. Activity outside Dublin was limited, with the standout being the €21 million sale of Clayton Whites Hotel in Wexford to the Neville Hotel Group.

Tom McCabeEd Fitch
By Tom McCabe and Ed Fitch
Ireland
Opinion Article

Hotel Market Beat 2025 H1 - Greater Paris

In the first half of 2025, hotel transaction volume in Greater Paris exceeded €600 million, with a total of 28 hotels and 2,120 rooms sold. Although transaction volume has declined by 46%, there was a significant increase in the total number of properties and rooms sold. This decline in transaction volume is mainly due to fewer large-scale deals compared to H1 2024, when four hotels accounted for nearly 80% of the total volume. Despite this, the hotel market remains in good momentum supported by a strong demand.

Jean-Christophe CharolleJerome Salomon
By Jean-Christophe Charolle and Jerome Salomon
Opinion Article

Market Snapshot: Asia Pacific 2025

In 2024, hotel transaction volume in the Asia Pacific recorded approximately USD11.5 billion, a modest 3% decrease from USD11.9 billion in 2023. While activity has softened, the pace of decline has significantly improved compared with the sharper 14% decline recorded between 2022 and 2023. The slowdown can be attributed not only to elevated borrowing costs but also to factors such as prolonged transaction timelines due to cautious due diligence and lingering macroeconomic uncertainties across major markets. On a trailing 12-month basis, transaction volume decreased 9% from USD12.4 billion to USD11.2 billion, with deal count easing from 492 to 456. Despite this, the narrowing pace of decline, together with resilient travel demand and selective regional growth, suggests that investors are likely to remain cautiously optimistic and selective.

Hok Yean Chee
By Hok Yean Chee, Regional President of HVS Asia Pacific, HVS
Opinion Article

Island of Opportunity: Curaçao’s Tourism Transformation

Once economically reliant on petroleum refining, with additional support from financial services and tourism, Curaçao has seen tourism emerge as the cornerstone of its economy since the refinery’s closure in 2018. This shift has become even more apparent in the post-pandemic era. The island boasts dozens of white-sand beaches, vibrant reefs, and world-class snorkeling, as well as the historic capital of Willemstad, a UNESCO World Heritage Site known for its Dutch Colonial architecture. Willemstad’s growing art, shopping, and dining scene and the island’s natural assets, rising visitation, and sustained investment are positioning the country for continued growth as a premier Caribbean destination.

Patrick B. Nau
By Patrick B. Nau, Senior Associate at HVS, Tampa - St. Pete, HVS
Curacao, The Netherlands
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Opinion Article

Hotel Market Beat 2025 H1 - Spain

The hotel investment market in Spain showed remarkable momentum and consolidation during the first half of 2025. With a total investment volume of €2.1 billion, the sector not only recovered to pre-pandemic levels but also recorded the third-highest first semester in history. Driven by robust demand and high-performing assets, the leisure sector regained its leadership, boosted by the record-breaking €430 million acquisition of the Mare Nostrum Resort in Tenerife. Domestic investors led the transactions, accounting for 66% of the volume. With a strong pipeline for H2 2025, the sector is on track. to surpass 3 billion mark, reinforcing Spain’s appeal to both domestic and international capital.

Albert GrauBruno Hallé
By Albert Grau and Bruno Hallé
Spain
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Opinion Article

Hotel Market Beat 2025 H1 - Italy

The Italian hotel investment market delivered a strong H1 2025, with transactions reaching nearly €1.7 billion, up 102% YoY. Rome and Venice led the activity, generating over €780 million (47% of the national volume), confirming their strategic appeal. Deals were mostly single-asset, focused on the Upper Upscale and Luxury segments. Notable transactions included the €170 million acquisition of the Mandarin Oriental in Rome (Villini Sallustiani). International investors drove 51% of total volume, with capital from Europe and the Americas. Despite cautious optimism, the market remains resilient, with a solid deal pipeline and sustained foreign interest expected to drive continued momentum in H2 2025.

Davide BarbaroFrancesco Calia
By Davide Barbaro and Francesco Calia
Italy
Opinion Article

It is time to develop new reflexes

France has a natural tendency towards romanticism, which is often a strength but can sometimes become a weakness. It is the world's leading tourist destination, with a hotel and tourism ecosystem that has never been as structured, inventive or powerful as it is today... and yet. And yet we like to make things more difficult, procedures more complex and decisions more opaque.

Vanguélis Panayotis
By Vanguélis Panayotis, CEO MKG Consulting & Hospitality ON / MRICS, Hospitality ON
France
Opinion Article

UEFA Women’s Euro 2025: Switzerland’s Summer of Football

When Switzerland welcomed the UEFA Women’s Euro 2025, it was more than just another major football tournament; it was a nationwide festival that brought together sport, culture and tourism in a way few countries could replicate. Over 650,000 fans filled stadiums across eight host cities, with an additional 500 million viewers watching on television and online. All but two of the 31 matches were sold out with fans coming from over 100 countries, reflecting the global pull of the women’s game.

Lionel SaulAmélie KellerGuy Llewellyn
By Lionel Saul, Amélie Keller, and Guy Llewellyn
Switzerland
Opinion Article

Hotel Market Beat 2025 H1 - UK

The UK hotel investment market witnessed a marked decline in transaction volumes during H1 2025, largely attributable to a subdued level of portfolio transactions compared to 2024. Although most UK markets saw a contraction in transaction activity, standouts such as Edinburgh and Glasgow demonstrated resilience, with Edinburgh recording a 136% increase in volume—primarily driven by high-value, single-asset transactions, including the sale of the W Edinburgh to Schroders. London, while representing 64% of the overall transaction volume, experienced a sharper year-on-year decline compared to regional markets. The overall reduction in volumes for H1 may reflect extended deal timelines, with many transactions being deferred to the second half of the year. Looking ahead, transaction activity is expected to recover as pricing expectations between buyers and sellers converge and financing conditions continue to stabilise.

Anastasia CooperFrancesca Madden
By Anastasia Cooper and Francesca Madden
United Kingdom
Opinion Article

Is Trump Torpedoing His Own Hospitality Sector?

That the persona of Donald Trump stirs strong emotions is clear. The same can be said about his policies. In particular his trade policy is seen by many non-Americans as an attack on long-standing friendships. The way Trump forces countries into (trade) concessions rubs so many the wrong way that they no longer view the U.S. as a reliable ally. In that light, economic shifts are taking place with major consequences, including for the number of visitors to the United States—and therefore for the U.S. hospitality sector.

Alexander Sassen
By Alexander Sassen, Lecturer Finance & ESG, Hotelschool The Hague
United States
Opinion Article

Modernizing the Philippines' hotel industry: How cloud is driving the change

As the hospitality landscape in the Philippines continues to evolve, an increasing number of hotels, particularly domestic groups, are recognizing the imperative to modernize their operations. The shift towards enterprise-grade and stable cloud-based solutions is enabling them to enhance operational efficiency, streamline processes, make data-driven decisions, and raise service standards. The market is projected to grow from USD 7.65 billion in 2025 to USD 10.95 billion by 2030, advancing at a CAGR of 7.43% and that's why, digital transformation of the hospitality sector is both timely and necessary.

Sudip Nair
By Sudip Nair, Assistant Vice President - Enterprise Sales (Asia Pacific), Hotelogix
Indirangar, Bangalore, Philippines
Opinion Article

Europe's underappreciated superpower

While Europe’s policymakers and opinion leaders obsess over semiconductors and clean tech, another economic engine is humming along with far less fanfare – and far greater local impact. In its forecast for the five-year period from 2024 to 2029, Oxford Economics named travel and tourism the world’s fastest-growing established industry – outpacing financial services, manufacturing, and even information and communication. It’s time Europe treated it as a serious pillar of economic strength – not a sideshow.

Peter Lochbihler
By Peter Lochbihler, Global Director Public Affairs, Booking.com
Opinion Article

Vienna Hotel Market Spotlight YE June 2025

The sample of branded full-service hotels in Vienna recorded a notable increase in profit during the 12 months ending in June 2025. The GOP per available room (GOP PAR) increased by 13.8% (YoY), driven by a 6.1% revenue rise that outpaced the 2.5% increase in expenses. While revenue growth slowed to 5.4% in H1 2025, it still surpassed expenses (+4.0%), leading to an 8.8% GOP PAR increase.

Nicolas HorkyAlina Cazachevici
By Nicolas Horky and Alina Cazachevici
Austria