Are new hotels more attractive for investment than renovated ones?

In Europe, accommodation companies are investing far more in building new hotels than in remodeling and refurbishing existing ones. In 2021, €17.9 billion was invested in new hotel construction, while only €2.8 billion was spent on remodeling and refurbishing. Independent hotels own more properties than chains, but are losing ground.

This chart shows that new hotels attract more investment than refurbished hotels. Data source: Statista.com

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