Banks are expected to release more of their assets onto the market over the coming year, according to Christie & Co.
Jeremy Hill, head of hotels, said: "The sector is in a crucial phase of its recovery and one that is likely to be protracted. As trading performance continues to improve, banks will come under further pressure to release assets to the market and to fund new investment." The company’s Business Outlook report found that 39% of the hotel deals handled by the group last year had some element of distress.
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