The European hotel investment market in 2024 sent a clear message: prime, luxury hotel assets remain not only resilient but increasingly in demand.
With €10.95 billion transacted across 137 deals, the year underscored an undeniable reality—high-end hospitality investments continue to flourish, even amid shifting market dynamics.
From iconic five-star resorts to exclusive four-star properties, demand for premium assets is fuelling exceptional transaction volumes, as investors compete to secure the most valuable properties in Europe’s leading destinations.
At Global Asset Solutions, we are the experts at the forefront of this transformation. Our deep expertise in hotel asset management enables us to unlock untapped potential in every investment, skilfully navigating market complexities to maximise returns. With decades of industry leadership, we’re not merely observing the trends—we’re helping to shape them (as seen, for instance, in Madrid).
In this white paper, we will present an overview of all significant hotel transactions within the 4-star and 5-star segments. Explore this report for an insider’s perspective on the latest transaction trends, key investor movements, and our distinctive approach to enhancing high-end hospitality assets. Discover how we continue to set the benchmark for excellence and redefine what’s possible in hotel investment.
The Big Numbers Of The Year:
Total transaction volume for 2024 reached €10.95 billion, with 137 hotel transactions recorded. The average deal size stood at €79.9 million, among 4-star and 5-star properties.
Over the course of the year, 23,561 rooms changed ownership, with the average price per key exceeding €465,000, reaffirming the strong valuations attached to high-end hospitality assets.
For context on the price per key, countries like Portugal, France, and Italy exceeded €600,000 per key, while others such as Sweden, Poland, and the Netherlands were below €250,000 per key.
Quarterly Trends
Transaction activity fluctuated throughout the year, reflecting investment cycles, macroeconomic conditions, availability of assets and seasonal demand. Breaking down the year by quarter provides a clearer picture of how the market evolved.
Total Transaction Volume and Rooms Transacted
Capital deployment followed a similar trajectory, with notable peaks in Q2 and Q4. The number of hotel units transacted fluctuated, reflecting the scale of deals in each period.
- Q1 2024: Total transaction volume reached €2.03 billion, with 4,130 rooms transacted.
- Q2 2024: Activity surged, with €3.17 billion in total volume, and 6,491 rooms changing hands.
- Q3 2024: The market softened, with a total volume of €1.93 billion, and 4,239 rooms transacted.
- Q4 2024: The strongest quarter of the year, recording a total volume of €3.82 billion, and a record 8,701 rooms transacted, demonstrating a significant year-end push.
Transaction Amount and Average Transactions
The number of transactions varied across the year, with Q1 starting cautiously before momentum picked up in Q2 and peaked in Q4 as investors sought to close deals before year-end.
Stars do come with a Price
This report focuses exclusively on 4-star and 5-star hotels, highlighting their role in the hospitality investment market. The following analysis presents a comparison of 2024 transactions by hotel category, showcasing how star ratings impact deal volume, transaction values, and price per key.
Read the full report here
