UK leads buoyant Western European hotel property market

The UK has been responsible for more than half the €6.7bn (£4.5bn) worth of hotel portfolio deals sealed this year, according to a new report.

Property agents Jones Lang LaSalle Hotels found the UK had taken the lion’s share of business in a soaring European market.

London maintained its status as a property hotspot, topping the single asset hotel transaction league with €845m (£570m) worth of business, surpassing 2005’s figure of €781m (£528m).

Rob Seabrook, executive vice-president of Jones Lang LaSalle Hotels, said: “So far this year we have seen unprecedented attention on the London market with high-value transactions including the sales of the Great Eastern Hotel for €219m (£148m) and the Marriott Park Lane for €153m (£103m).”

Overall, the value of European hotel transactions this year are €2bn (£1.35bn) ahead of 2005 at €9bn (£6.1bn).

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Eastern Europe’s hotel industry attracts investors >>

By Tom Vaughan

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