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Strong demand for hotels

11 August 2017

CEE REGION The volume of hotel transactions achieved in the first half of 2017 was more than EUR 700 mln with 34 transactions recorded in core CEE markets, according to data from Cushman & Wakefield.

This represents an 11 pct increase the 20 transactions worth EUR 630 mln over the same period of the previous year. In H1 2016, Poland saw a total investment volume of only EUR 4 mln, but this year it is the best performing CEE country so far both in terms of investment volume and the number of transactions, with EUR 350 mln in 16 deals. The Czech Republic came second with EUR 165.5 mln in 6 transactions up 5 pct y-o-y (EUR 174 mln in H1 2016). The largest transaction in the CEE was the acquisition of the Marriott Hotel in Prague that sold for around EUR 90 mln in April 2017. Hungary came third with EUR 99.3 mln, which is over three times more than H1 2016. Bulgaria, Romania and Slovakia accounted only for 3.2 pct altogether in terms of transacted volume in the CEE region. “Increasing interest in the region by both local and international investors has been particularly visible in the CEE tourism and hospitality industry, which caught investors’ attention by generating strong income returns. This has been of great importance in initiating a virtuous circle of investments, which has had a positive impact on initial yields over the past few years, particularly in capital cities – such as Budapest, Prague and Warsaw. Regional cities are now starting to benefit from the positive cascade effect and we are seeing interest in these markets growing” says David Nath, the head of CEE hospitality at Cushman & Wakefield.

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