London hotel market recovering but regional picture remains bleak

By Chris Druce

- Last updated on GMT

Related tags: Jones lang lasalle, Economy, Remainder, Economics

The London hotel market is recovering, with sales up
The London hotel market is recovering, with sales up
UK investment activity will increase this year with London remaining a firm favourite, but sales activity in other cities looks set to remain subdued, according to a new report

The latest Hotel Investor Sentiment Survey from property agents Jones Lang LaSalle Hotels predicts that as economic conditions gradually improve, investor sentiment will continue to shift slowly towards a ‘buy strategy’.

While London remains an investment favourite, Jones Lang LaSalle warned that demand for hotel property in the regions in cities such as Birmingham and Manchester would likely remain subdued for the remainder of the year.

Mark Wynne-Smith, chief executive of Jones Lang LaSalle Hotels in Europe, said: “These cities are highly dependent on domestic tourism which is likely to remain challenging as the UK economy and unemployment levels only gradually recover.”

Last month Jones Lang LaSalle reported the UK hotel market was returning to life​ after a moribund 2010.

Related topics: Trends & Reports

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