Hotel investments in CR reached EUR 620.4m

Published: 16.04.2020 Related countries:  United Arab Emirates United Arab Emirates

Due to its beutiful scenery and history the Czech Republic is still very interesting for the investorsi in the hotel market

In 2019 hotel investments in the CEE region totaled EUR 1.4bn. A total of 55 hotels with more than 10,000 rooms acquired new owners. This is based on a joint analysis by Cushman & Wakefield and law office CMS. The main share (43 %) of this volume was accounted for by the Czech Republic, in which investments worth EUR 620.4m were completed. The largest transaction in CEE was the acquisition of hotel InterContinental Prague worth EUR 225m. For 2020 transactions worth almost EUR 2bn were originally expected, however the likelihood that they will be completed is falling due to the effects of the COVID-19 pandemic. The volume of investments from 2019 is however evidence of the level of activity of which the region is capable and to which it could return once the sector recovers.
Source: https://www.cianews.cz/en