Market insights
Evidence before opinion.
Notes from current mandates, published data and conversations across the European hotel market.
European hotel investment, H1 2026: fewer deals, better assets
European hotel transactions reached €9.4bn in the first half, 10 per cent below last year but 11 per cent above the ten-year average. Price per room reached a decade high.
6 min readThe branded residence premium, and where it holds
Published analysis puts the global brand premium at 33 per cent. The average is stable; the variance is where money is made or lost.
5 min readWhere owners lose value in management agreements
The base fee is rarely the expensive term. Performance tests, reserve definitions and protection areas do more damage over a hold period.
7 min readOffice-to-hotel conversion: what the cost side is telling us
Published London benchmarks put all-in conversion at £550 to £1,200 per sq ft. The office basis has to be genuinely cheap.
6 min readDebt markets: what is actually clearing
Senior at 55 to 65 per cent LTV on stabilised hotels, with five to seven year tenors. Stable, and selective.
5 min read