Hotel investment volume in the Europe, Middle East and Africa rose 55% to Eu3.97bn in the first three quarters of the year, according to Jones Lang LaSalle Hotels.
The UK was the most active market, with over Eu1bn of investment transacted. Mark Wynne Smith, CEO for EMEA said: "Sellers are now more realistic about their pricing expectations and this has helped kick start the market following a very quiet period. We currently have a reasonable balance between the number of buyers and the stock of hotels on the market. We have also seen a number of distressed sales complete which has given us a good sense of how buyers price when they have a highly motivated seller. Acquisition debt is however is still scarce."
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