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
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