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November 17, 2011

Global hotel transactions double in H1 2011

Despite the world's economic turmoil, hotel transactions for the first half of 2011 were over double the figure for the same period in 2010, a Deloitte survey reveals.

Despite the world’s economic turmoil, hotel transactions for the first half of 2011 were over double the figure for the same period in 2010, a Deloitte survey reveals.

According to the survey, 51% of respondents found current trading to be better than expected, while 12% said trading was worse.

Nick van Marken, Deloitte global head of advisory, travel, hospitality & leisure, said that although many cities in southern Europe were lagging behind their peak levels, the majority of major European markets have seen improved year-to-date (YTD) performances.

London registered an 11% higher revPAR for the YTD compared with 2010, 13% ahead of the previous peak.

Of the respondents surveyed, 46% highlighted the UK as the most promising European market in terms of future hotel development, followed by Germany with 30% and France with 16%.

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