Job search
Job Search
Latest news
More news: (showing 1 - 20 of 13727)           
UK only International

Europe sees hotel value hike for fifth straight year

By Jak Phillips    05 Mar 2015
Manchester enjoyed double digit hotel value growth and has a strong development pipeline for hotels up to 2017 / Shutterstock.com / Gordon Bell

Hotel values in Europe increased for the fifth year in succession during 2014, with properties in the UK and Southern Europe seeing some of the biggest gains, according to the 2015 European Hotel Valuation Index.

The index – published this week by global hotel consultancy HVS – showed particularly strong figures for Madrid, which recorded an impressive year-on-year value climb of 14 per cent. The average value per hotel bedroom in the Spanish capital rose from €185,000 (US$205,000, £134,000) in 2013 to €211,000 (US$234,000, £153,000) in 2014. This was attributed to a slowdown in the city"’s new hotel supply and renewed international demand for rooms, particularly in the corporate sector.

The second biggest value rise in hotel stock was in Manchester, up 13.5 per cent year-on-year to £121,470 (US$185,526, €167,510) per room. The hike is partly attributable to the lack of new hotels in the city, according to HVS, a situation due to change as Manchester has a development pipeline of some 2,000 rooms opening by 2017. The city also witnessed the launch this week of the new Hotel Football, a venue directly opposite Old Trafford owned by a quintet of Manchester United legends.

Elsewhere in the UK, Birmingham also managed double digit growth, following improved performance and growing investor interest, according to report co-author James Heavey – an analyst at HVS London.

This year’s index reveals that Europe’s most expensive hotel rooms are still in Paris (€703,935, US$779,643, £510,461), London (£491,815, €678,222, US$779,643) and Zurich (€534,646, US$592,147, £387,700), considerably above the European average of €246,641 (US$273,167, £178,853).

"The trend for improving values should be sustained in the foreseeable future," concluded report co-author Sophie Perret, director of HVS London.

"There is clearly a narrowing of the gap that has, for the last few years, separated primary markets from those cities that were previously considered "no-go" areas for most investors.

"While cities such as Paris and London will remain out of reach for most, hotels in German cities continue to offer reliable opportunities and Southern European markets are certainly a bright spot at the moment."

Sign up for FREE ezines
Related news

Company profile

Company profile: ABC Trainerize
ABC Trainerize is a member engagement mobile app and software platform that allows coaches and fitness businesses to expand their reach beyond their physical space, better connect with members, and digitize the training experience.
View full profile >
More company profiles

Featured Supplier

Elevate registrations soar: a record-breaking start to Elevate 2024
Elevate, the premier event in the physical activity, fitness, sports therapy and performance sector, is thrilled to announce that registrations for its 2024 conference are now live – and the response has been nothing short of exceptional.
View full details >
More featured suppliers

Property & Tenders

Location: Loughton, IG10
Company: Knight Frank
Location: Grantham, Leicestershire
Company: Belvoir Castle
Location: Verwood, Dorset
Company: AVISON YOUNG
Location: Hall Place House, Bexley, DA5 1PQ
Company: London Borough of Bexley
Location: 15 Concessions across the nation's forests
Company: Forestry England
More properties & tenders

Diary dates

11-14 Apr 2024
Exhibition Centre , Cologne, Germany
22-24 Apr 2024
Galgorm Resort, York
10-12 May 2024
China Import & Export Fair Complex, Guangzhou, China
23-24 May 2024
Large Hall of the Chamber of Commerce (Erbprinzenpalais), Wiesbaden, Germany
More diary dates