22 January 2018 – Press Release
Businesses can look forward to a period of increasing confidence as we head into 2018, according to the latest report by Christie & Co, specialist hotel property adviser in Spain and business property adviser in the United Kingdom.
In its Business Outlook 2018 report, Christie & Co reviews the most important investment figures in Spain, Europe and the UK, as well as the main hotel indicators for the market in 2017.
According to the data available to Christie & Co, Spanish hoteliers must strengthen their position in the face of the recovery of competing destinations, such as Turkey, Egypt and Greece, which will exert greater pressure on prices and may divert some of the outbound tourism from northern Europe towards other sun and beach destinations.
The report emphasises the increase in investment registered in 2017 in Spain, mostly carried out by investors (51.2%), whose seven largest operations amounted to more than the entire country’s investment figure in 2016. In addition, the proportion of foreign investment represented 56% of total investment and mostly proceeded from the United States, the United Kingdom and France.
Regarding Portugal, the report highlights that only seven deals were known to the market in 2017, involving hotel assets sold individually to hotel operators (MGM Muthu and Hoti Hotels) and investors (Internos). The potential of Portugal in terms of hotel investment is growing, with many investors interested in Porto, Lisbon and the Algarve, mainly due to a remarkable market recovery, which, in the case of Lisbon recorded an increase in occupancy rates and RevPar of 2.8% and 14%, respsectively, during the 9 months to September 2017, with respect to the same period in 2016 (…)
Regarding the UK, where the advisor covers a wider range of sectors, Christie & Co identifies those which benefitted from activity fuelled, in part, by the availability of finance and a surge of investors, many from outside the UK, looking for good opportunities and strong returns.
The continued uncertainty surrounding Brexit has made its impact across all sectors, but the UK has also welcomed a spike in tourism and a surge of foreign capital into the UK market. Asian investors particularly view the UK as an attractive investment opportunity thanks to the country’s stability and relatively low value of the Pound (…).
As a conclusion to the report, Christie & Co believes that the economy is recovering and there are still plenty of growth opportunities, something that they are also embracing, bolstering their teams both in the UK and Europe, to capitalise their expertise to attract and support both new and well-established clients who need help navigating the market, and who want to ensure a high-performing business.
Original story: Press Release
Edited by: Carmel Drake