The European hotel property sector returned 6.9% last year, compared to returns of 14.9% reported in the UK, according to the recently-launched IPD European Hotel Performance Report, which is sponsored by Jones Lang LaSalle Hotels, Invesco Real Estate and HVS.
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
