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Hotels in Paris May Gain the Top Level in Value by 2015

News Hotels in Paris have always been a popular form of investment for international hoteliers and private investors. The demand for properties in the city of love is so high that the value of guestrooms in Paris may reach the record value by 2015. The estimated cost of one guestroom in Paris hotels may reach €650,000.

Even though the price for hotels in Paris has always been high, this fact has never stopped investors. The value of Parisian accommodations grows quicker than in other popular European destinations. France in general and Paris in particular remain attractive for investors despite the recession. The volume of transactions concerning hotel sales remains high as well. In 2010 the total volume of transactions estimated €772 million in France. This is one of the best figures in Europe ahead of Spain (€680 million) and Germany (€200 million). Only the UK and Scandinavian countries are forward with €1.9 billion and €1.2 billion respectively.

The most notable purchases of 2010 were the 147-key Hôtel de Crillon (previous owner Starwood Capital, new owner unknown Saudi investors) with the total sum of the deal €250 million or €1.7 million per key and Hotel Lutetia with the total sum of the deal estimating €145 million or €628,000 per key.

Hotels in Paris occupy the first place in HVS European Hotel Valuation Index. The city has been ranking first since 2008 and even crisis cannot change this. The average cost of one guestroom in Paris costs €568,800, adding 4% each year.

In 2010 the growth of RevPAR of midscale hotels in Paris estimated 20%, while upscale and luxurious properties added 10%-11%.

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