Hotel investment hit €10bn in H1 2026—outpacing the five-year average by 10% as investor confidence strengthens.

Market fundamentals remain solid: bid depth increased, the bid-ask gap stayed tight, and transaction momentum accelerated into Q2 with €5.5bn in volumes (+14%).

Where capital is flowing: → UK leads with exceptional 107% growth to €2.3bn → Spain, Portugal, and France deliver double-digit gains → Cross-border investment surges 69% to €4.5bn (45% of total activity) → Middle Eastern capital expands presence significantly → Private investors up 135%; private equity rebalances (-90%)

The bigger picture: Hotels secured 8% of total EMEA commercial real estate investment, holding ground as Living and Office sectors led overall market activity. European capital remains the dominant force, representing 72% of cross-border flows—yet strategic international investors continue to identify compelling opportunities.

Interested in investment opportunities and market dynamics?

Connect with our JLL Capital Markets expert : Joe Stather