The global law firm’s annual survey revealed how investors, owners, developers, advisors and operators view that market.
More than half of those surveyed (55.1 per cent) are confident that RevPAR will increase and that the industry will grow in 2013.
Amsterdam, London, Barcelona, Vienna, Berlin and Copenhagen are being singled out as potential hotspots, while 69 per cent of those responding believing that more realistic pricing expectations will drive investment activity.
EMEA sector head for hospitality and leisure at DLA Piper Karen Friebe commented: “This year’s survey offers a marked step up in optimism from last year. While many acknowledge that 2013 will not be wildly different to 2012, there is an expectation that the market might start moving in terms of deal flow and many expect growth across major cities.
“There is still a dogged determination by many to move forward, to seek growth and maintain a semblance of stability, but there is also an acknowledgement that the days of free and easy debt, an active deals market and large global growth are at an end. Many also recognise that this is an industry which brings in much revenue for many economies and we need to ensure that it remains supported and is encouraged to flourish and grow.”