Amsterdam has replaced London as Europe’s most attractive destination for hospitality investment, according to the latest research by business advisory firm Deloitte, The Caterer reported. The findings of the survey of more than 100 senior hospitality leaders have been published ahead of the 28th Deloitte European Hotel Investment Conference.
The survey expects Chinese and North American investors to bear a significant weight in the European hotel investment market in the next year, according to The Caterer. Nearly two-thirds (62%) of respondents forecast China to provide the largest source of inbound investment into Europe, up from 51% last year, followed by North America (46%), The Caterer cited the survey’s findings.
More than a third (34%) ranked the Dutch capital as the most attractive hotel investment destination in Europe, while London (32%) had held the top spot for the last two years. Barcelona (28%) and Dublin (24%) followed, The Caterer added.
“It is reassuring to still see clear signs of optimism. Investors from China and North America are likely to capitalize on the weakness of sterling and still see the Continent as offering potential,” said Nikola Reid, director in Deloitte’s hospitality advisory team, according to The Caterer. “Despite initial uncertainty in the immediate aftermath of the Brexit vote, we have recently seen a rejuvenation of interest from foreign capital driven by their appetite for income and the opportunity to capitalize on sterling’s depreciation,” she added.