London is one of the most attractive places to invest in the hotel industry outside of the eurozone.
This is one of the findings of a new study by DLA Piper, which also discovered that 90 per cent of individuals questioned - which included lenders, developers, hotel owners and investors - believe the UK capital's hotel sector is well prepared for this summer's Olympic and Paralympic Games.
Almost two-thirds of those who took part in the survey stated they are looking to invest outside of the eurozone as a result of its economic climate, with countries such as Greece and Italy holding large amounts of debt.
London was highlighted as being popular with both business and leisure travellers, making property here an attractive investment.
As well as providing accommodation for clients liaising with firms with
London offices, hotels in the city often have conferencing facilities, making them an ideal place to meet, especially when those visiting the capital need to see several companies in a short space of time.
When asked about the legacy of the Olympic Games, 56 per cent think the sporting event will leave a positive one for London's hotel industry.
The report noted these individuals "believe that the Olympics offer a non-stop 16-day global advert for London, with cultural, historical and retail attractions benefiting from the interest pieces that global media will run in addition to the sports coverage. London is also one of only a handful of cities that can truly be considered world-class destinations. All of these factors should ensure increased visitor numbers over the next few years".
By bringing the capital to the attention of international investors, a surge in demand for commercial
London offices could also be experienced.
In addition, it has been revealed that London's only five-star all-suite hotel, the Wyndham Grand at Chelsea Harbour, is up for sale for around £80 million, which could further put the capital's hotel sector in the spotlight.
Posted by Emma Davies
News provided by Adfero in collaboration with Mellersh & Harding. Please note that all copy belongs to (c)Adfero Ltd and does not reflect the views or opinions of Mellersh & Harding unless explicitly stated.
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