Hotel sales soar 175% so far this year

The hotel market saw a huge increase in activity in the first half of this year, with almost three times as much spent on property sales.

Commercial property adviser CBRE yesterday released data which showed hotel property sales rose 175% in the first six months of 2014 compared with the same period last year. The spend totalled €132m — up from €48m in the opening half of 2013.

Some 27 hotel property sales have been concluded this year. There were 13 at this stage last year.