Search
 

European Hotels Pin Hopes on Medium Term Recovery

LONDON-According to Jones Lang LaSalle first global hotel sentiment survey since 11 September, the short-term outlook is lousy but the medium term looks OK.

By Charlie Jacoby | Updated on February 15, 2002

LONDON-Investor sentiment towards the European hotel sector has weakened sharply following the events of 11 September, according to a Jones Lang LaSalle Hotels’ survey of the sector’s top investors and owners.

But they only expect short-term performance to suffer and the majority of investors believe that the medium term outlook for Europe’s hotel markets is strong according to Arthur de Haast, managing director Europe at Jones Lang LaSalle Hotels.

Investors believe occupancy and ADR are set to fall further in the short term, with London forecast to be one of the worst performers. London has suffered because of its reliance on US business. Transatlantic travel has been hit first by the general economic downturn in the USA, then by foot and mouth and then by 11 September.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.