With an investment volume of close to 720 m € in the first quarter, hotels stepped up their already very good prior-year total by around 24 % and achieved their best result since their record performance in Q1 2007. The ten-year average was exceeded by a handsome 55 %. In contrast to the opening quarter of 2007, when nearly two-thirds of the turnover was generated by the portfolio sale of 72 Accor hotels to Moor Park, this year's result was fuelled entirely by single deals, which thus reached a new high. Transactions included the sale of prominent hotels like the fivestar Villa Kennedy in Frankfurt. In the portfolio segment, there was no activity at all in the first three months. But that is just an interim picture and is likely to change significantly in the months ahead.
Source : BNP Paribas Real Estate