Germany experienced a surge in investment activity in 2000 with total investment volumes exceeding €610 million, which is considered…
Germany experienced a surge in investment activity in 2000 with total investment volumes exceeding €610 million, which is considered to be exceptional and unlikely to be repeated in the short term. HVS recorded a total of 19 transactions, including the 202-room Four Seasons Berlin for €86 million (€428,000 per room) to the German closed-ended fund HGA Grundbesitz und Anlage, the 510-room InterContinental Hotel Berlin for approximately €141 million (€276,000 per room) to German open-ended fund DIFA, and the Marriott Hotel in Hamburg to US-based Strategic Hotel Capital for €45 million (€164,000).
Austria‘s hotel investment market has remained relatively illiquid, with some investment in the capital Vienna. In recent times investor interest has increased, largely as a result of improved operating performances and changes in German tax laws, which have motivated German funds to invest in Austria where the tax system is more favourable.
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