Investments on the Czech hotel market are expected to top €220m this year, according to Cushman & Wakefield. Central Europe’s hotel market has witnessed an increase in domestic and international investment activity, with Asian investors among the most active. “Since the beginning of 2015, we have facilitated the sale of six hotels in Central Europe. More deals are in the pipeline for the upcoming months. We have just launched the sale of the Union Hotels portfolio in Ljubljana, Slovenia. All types of capital are interested in buying – from private to corporate to institutional,” says Frédéric Le Fichoux, head of Cushman & Wakefield’s CEE hospitality team. He adds that interest from Chinese investors increased after China lifted restrictions on foreign property acquisitions.
The sale of Courtyard by Marriott Prague Airport and Courtyard by Marriott Plzeň in February were the first two big deals of the year. Cushman & Wakefield’s hospitality team advised the seller, CA IMMO, on both transactions. Negotiations are underway on the sale of an additional three hotels in the Czech Republic. The sale of the Hilton in Prague is likely to be the biggest deal of the year.
