The number of new store openings by luxury brands is declining, but many companies are expanding their existing shops as luxury spending is on the rise again, according to a new Savills report which was presented at PropertyEU’s European Retail Investment Briefing in London on Friday.
Opportunistic investors KKR and Baupost confirmed the acquisition of a portfolio of 33 Marriott International hotels across the UK from ADIA, while listed property group Covivio completed the purchase of 43 hotel properties in France, Belgium and Germany, in a €800 mln swap deal with AccorInvest.
