GCC investors keen on hotel assets in Europe

There is an increasing interest among GCC investors for hotel assets in major European cities such as Paris and London, according to Jones Lang LaSalle Hotels.

In a move displaying confidence in European markets, Capital France Hôtel (CFH), the hospitality fund managed by Algonquin Asset Management France, has acquired four-star hotel Radisson Paris Boulogne Hotel from Compagnie La Lucette, marking the first Parisian transaction of the year, Jones Lang LaSalle Hotels, advisors to Compagnie La Lucette, said yesterday in a statement. This transaction indicates there are some good opportunities in the hotel investment market."

Mark Wynne-Smith, CEO, Jones Lang LaSalle Hotels, Emea, said: "This transaction is a sign of medium-term confidence in the Paris market."

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