Investment in EMEA hotels fell by over 50% in 2009, according to new research from Cushman & Wakefield Hospitality. Total investment volumes totalled EUR 3.2 bn in 2009 against EUR 6.4 bn in 2008, with 50% by value in 2009 being distressed sales. The 2009 total marked an 85% fall on 2007’s record figure of EUR 19.8 bn.
Legal & General Investment Management’s (LGIM’s) managed fund has acquired Tesco Yarrow Road Poole from clients of abrdn for £46.1 mln (€54 mln).
