Property company, CB Richard Ellis Hotels Europe, is predicting that 2004 will be a record year for hotel deals.

Derek Gammage, managing director, said: “It’s difficult to remember when we last saw such a level of activity so early in the year.

“There is a level of interest in European, London and UK provincial hotel assets which we have not seen since before September 2001.

“We expect major disposal plans from both major branded operators and private owners in response to exceptional interest from European, US and Asian investors,” he said.

He added that the revival appears to not just be in Europe, but global, with CB Richard Ellis Hotels’ US offices also reporting the strongest first quarter in the firm’s history.

“The interest in hotel assets goes beyond trophy properties,” said Gammage. “With a return to profitable trading, hotel assets are looking like a good sell option for prudent owners who have sat out the turmoil of the last three years and these assets are looking like very attractive growth opportunities for new investors in the market.

“Hotels have proved their resilience through the recent horrors and are now seen as a very sensible recovery play.”

He added that hotel recovery was not limited to existing assets, as the company is also involved in many new projects, showing increased confidence in the future.

Elsewhere, CB Richard Ellis Hotels has announced the launch of the Arabian Hotel Investment Conference.

The event will take place at the new Madinat Jumeirah resort in Dubai on 30 April to 2 May 2005, just prior to the Arabian Travel Market.

The conference will focus on the Middle East. Details: www.cbrehotels.com