LOW VOLUME BUT HIGHEST DEAL COUNT SINCE Q1-Q3 2022
-
The hotel investment market presented a mixed picture after the first three quarters. On the one hand, the absence of major volume drivers resulted in a transaction volume of around €1 billion, down just over 27% on the strong prior-year period. On the other hand, deal activity painted a very different and significantly more positive picture of market sentiment. By the end of September 2026, around 27% more transactions had been recorded than in 2025, marking the highest deal count for the first three quarters since 2022.
-
Accordingly, market momentum in the hotel sector has by no means weakened but is currently characterized by many smaller transactions. All deal-size categories up to €50 million recorded increases of around 30%, while transaction volume in the segment above €50 million fell by almost 65%. The largest deals included the sale of 11 Pentahotels in Germany, Belgium and France, six of which are in Germany, as well as the Intercity and Excelsior hotel transactions near Frankfurt and Munich central stations, both advised by BNPPRE.
-
International investors show a similar pattern to the overall market: strong activity is reflected in the higher number of deals rather than in transaction volume. Foreign investors have invested around €500 million so far, accounting for just over 48% of total volume.