BERLIN-After a hotel transaction volume of $1.3 billion in 2010, a return to the long-term average, with international investors returning to the market and a first revenue increase since 2006 - of 2.2% - a rise to $1.4 billion is likely this year, says realtor CB Richard Ellis.
“Foreign investors are very interested in German hotel property,” said Head of CBRE Hotels Germany Olivia Kaussen. CBRE found in a study that they were the only investors purchasing last year. The upswing is supported by the positive economic framework.
Overnight stays rose by 3.2% to 380 million, the highest figure ever registered. Revenue per available room was up by 29% to €82 in Munich, the strongest growth in any European city, with €115 as average room rate. Berlin’s rate is $116, up by 12%, with RevPAR at $85 – while D
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
