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London Hotels In For a Rough Ride

LONDON-Pundits at Jones Lang LaSalle Hotels say that London could feel the worst knock-on effects of the terrorist attacks on the USA but continental European markets may yet stave off a prolonged downturn.

By Charlie Jacoby | Updated on October 03, 2001

LONDON-London’s hotel market is likely to feel the worst knock-on effects of the terrorist attacks on the USA but continental European markets may yet stave off a prolonged downturn. That’s the conclusion of one leading hotel brokerage.

Directors at Jones Lang LaSalle Hotels agree that the future of the market rests on the nature and extent of retaliatory action in the coming weeks and months. In the meantime, it expects markets with a high reliance on US customers to be hit hard.

Arthur de Haast, managing director Europe at Jones Lang LaSalle Hotels said: ‘We have to assume that in the short term the London market has the potential to suffer the most, not only due to its high level of US demand, but its role as a gateway to Continental Europe for many US leisure travellers. In addition, the high profile political and possible military support the UK has given the USA, may deter travellers to the UK. Looking across the continent, the upper segment of hotels in Paris, Rome, London and Amsterdam are most exposed to US demand.’

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