The luxury hotel sector is still attracting investors despite recent challenging times, a new study from PricewaterhouseCoopers (PWC) has found.
According to the report, growth prospects for the sector as a whole are good, with investors looking for opportunities in emerging European city markets.
London is leading a European recovery, with achieved room rates hitting £400. Recovery in Paris, Madrid, Barcelona and Geneva is proving much slower.
Robert Milburn, UK leader for hospitality and leisure at PWC, said: "The European luxury hotel sector is remarkably resilient and, therefore, still attractive to investors. This research shows that prosperous private individuals will always be prepared to pay for the best despite changing economic cycles."