Hotel specialists from Colliers International’s Bristol office are predicting a brighter future for the South West sector following better than expected sales in 2011.
Director Simon Wells said Colliers had sold a total of 193 hotels throughout the UK over the last couple of years – confounding commentators who had suggested transactions were scarce.
He said: “There seems to be a belief that the market has stagnated and that hotels are simply not selling. The fact we have continued to remain active selling just short of 200 hotels in the UK since the start of 2010 means there are still deals being done out there.”
“Potential owners are looking at long term returns as well the short-term gains. The beauty of hotels, unlike many other businesses, is that value is underpinned by the asset as well as providing a high standard of living from day-to-day trade. It is no wonder we are getting plenty of viewings at the moment from would-be owners.”
Colliers International has around 50 specialists working in the hotel sector across the UK which makes it one of the largest dedicated teams of any firm in the market.
Simon Wills said: “Where real quality is on offer we are seeing evidence of well-heeled buyers less concerned about the immediate return on investment and more focused on the long term benefits.”
“We are predicting an increase in the number of UK hotels that are confidentially placed on the market as owners dip their toe in the water.
“The common theme is that a well-run hotel will still prosper when it comes to market. Colliers continues to sell high volumes of UK hotels and we anticipate we’ll sell more in 2012 than we did in 2011.”
