Increase in hotel market investments in 2017
A REAL estate advisor has revealed that investment into the south east and home counties hotel market reached a total of Â£980 million in 2017.
Savills said that the region benefits from its popular coastline as £66 million of the area’s transactions occur on the coast, predominantly in Brighton, Portsmouth and Southampton.
The international firm reported a 60 per cent increase in investment levels compared to that recorded in 2016. The south east accounted for 18 per cent of the total UK volume of £5.4 billion. The firm said that the average price per key for the region and home counties reached 135,702 last year, with the average transaction size recorded at ‘circa £15 million’.
Georgie Liggins, of Savills, said: ‘The south east and home counties hotel market has had a strong year driven by the region’s close proximity to both London and the coast.
‘We expect the coastal markets to do particularly well in 2018 as tourist numbers and therefore spend rises with the increasing popularity of staycations and the regeneration of several key seaside resorts.’