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North West England saw approximately £82.5m worth of hotels transacted in 2024, with Manchester accounting for almost £31m of those hotels sold, according to new data from Savills.
The real estate advisor found that whilst the 2024 regional figure is “slightly” down YoY, with 2023 seeing £85.6m transacted, appetite from investors across the North West remains “strong”.
The largest hotel transaction by value was the sale of the Travelodge at Manchester Piccadilly Gardens for circa £24m.
More broadly, Savills found that total UK hotel investment transactions are estimated to have reached £5.75bn in 2024, more than double the value recorded in 2023 and the highest level of activity in the sector since 2018.
The research shows that the resurgence in activity was largely driven by portfolio transactions which accounted for 55% of total investment volumes, equating to £3.14bn, 61% higher than the 10-year average for portfolio volumes.
Hotel investment volumes in the UK’s regions totalled £3.34bn in 2024, representing 58% of total volumes. This marks a 217% year-on-year increase and is 24% above the 10-year annual average.
Tom Cunningham, director of hotel capital markets at Savills, said: “The UK’s hotel sector as a whole demonstrated resilience in 2024; with a range of quality assets, and hotels acting as a robust hedge against inflation they continue to appeal to international investors.
“The market in the North West has seen healthy demand from a variety of different types of buyer, with hotels of all different sizes and types seeing demand, and we predict that activity will continue to be robust in 2025.”
