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Hotel Industry: Focus Shifting Shores to England and the Continent

NEW YORK CITY-Hotel industry leaders are recovering from jet lag after returning from a conference that looked at such topics as US investments in Europe and the future of technology's role.

By Amy Vaughn | Updated on November 14, 2000

NEW YORK CITY-Jones Lang LaSalle Hotels, the North American headquarters of which is based here, joined with American Express, Arthur Anderson and Schroder Salomon Smith Barney in hosting the 12th Annual European Hotel Industry Investment Conference in London. Leaders in New York’s hotel industry, and the world’s, gathered to together to talk about the significant role of American investments in Europe and the future of those hotel portfolios. Industry leaders are returning to work here in Manhattan, reflecting on the conference.

Panelists in a session, “Hotel Investment Review” discussed the role of US buyers on the European market. The session speaker, the executive vice president of Europe for Jones Lang LaSalle Hotels, Nick Marsh, noted that US buyers are focusing predominantly on hotel properties on the continent, rather than the United Kingdom.

While across the Atlantic their colleagues were contemplating the impact of the NASDAQ, Dow and S&P woes, in London, professionals talked about the links between a lack of quality product in 2000 and the view of the UK as being at the top of a cycle. Marsh said that liquidity increased in 2000, the hotel trading cycle had become more attractive and market growth provided safer “outs” for owners. He also noted that the debt markets are relatively liquid and that there has been a growth in pension funds around Europe.

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