25 September 2012
Discussion From Hotel Leaders About Europe Mixed Messages
LONDON—Hotel hot spots in Europe are easy to find, according to executives speaking during the opening session of the Hotel Investment Conference Europe. Look no further than major metropolitan urban centers and unique resort destinations, experts said.
“The place to invest, we believe, is in the gateway cities,” said Doug Kessler, president of Dallas-based Ashford Hospitality Trust, a real-estate investment trust that traditionally has owned a portfolio of hotels in the U.S. but is looking to expand its reach in Europe. “The supply-demand fundamentals for gateway cities are pretty strong.”
That, plus the concern over the future pricing of distressed hotels in provincial areas, has Ash ford and others scrambling for big-city assets.
“Hotels in the strong capital cities will always trade,” said Steve Goldman, CEO of Paris-based Groupe du Louvre. “I view resort destinations similar to capital cities … resort destinations that can’t be replicated ... that's the main criteria.”
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