SANJOSE will renovate the 4-star Hotel Princesa Plaza Madrid 02/08/2023 Selenta Princesa Propco has awarded SANJOSE Construction the contract for Phase I of the.
While most markets across Europe experienced a robust hotel performance recovery, the transaction activity recorded only a modest growth in 2022 hampered by the raised cost of financing, economic and geopolitical concerns. Nevertheless, nearly 800 hotels were sold in 2022 worth €18 billion, 2% more than in 2021. The UK remained the most active hotel investment market , although its lead over other markets has narrowed with the rise of France and Spain, ranked the second and third respectively.
Hotel transaction volume across Europe reached over €7 billion during the first six months of 2022, with 319 properties changing hands. Despite the strong recovery of travel demand and the wall of capital looking for opportunities, transaction activity remained flat compared to the same period last year, with investor appetite constrained by rising financing and operating costs, fears over consumer confidence and a lack of willing sellers.
Brookfield acquires Hotel Princesa Plaza in Madrid from Colony Capital, Gaw Capital acquires the Hotel Infante Sagres in Porto, Portugal, Raiffeisen Immobilien KAG acquires Bassena Hotel development in Vienna, Austria, Bespoke acquires McMillan Hotels in Scotland.
Briefs: Brookfield acquires in Madrid; Cambria dealing with new prototype – HOTELSMag com hotelsmag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hotelsmag.com Daily Mail and Mail on Sunday newspapers.