ALG is looking to grow its European portfolio to 35 hotels and 10,000 rooms across the continent by 2021.
After opening 13 hotels in 2018, including the company’s Barcelona debut, Iberostar is set to open seven new properties in 2019.
Portfolio transactions made up 56 percent of of the region’s deals at £630 million, while the remaining 44 percent were for individual deals.
Egyptian banks are partnering with the tourism ministry to establish a private equity fund that will “revitalize” struggling hotels and restructure the sector’s debts.
