More Asians investing in European hotels
CBRE research attributes this to a relaxation of domestic controls on outbound funds
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Fiona Lam
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Singapore
ASIAN investment in European hotels is forecast to rise by 58 per cent to hit US$22.7 billion (S$30.7 billion) this year, driven by the increasing liberalisation of domestic controls governing outbound investment, CBRE research has found.
This follows last year's 90 per cent rise in the value of hotel acquisitions in Europe by Asian investors; US$331 million of the European purchases were made by Singapore companies.
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