European Hotel Investment Defied 2025’s Uncertainty. The Next Test Is Already Here.

European hotel investment shrugged off uncertainty in 2025, with deal flow holding firm across all four quarters despite a challenging global backdrop.

The market posted over €14.6 billion (about $17.1 billion) in transactions across 267 deals in 2025, according to a report from Global Asset Solutions, an independent advisory firm with a portfolio of over $20 billion in assets managed in Europe, Asia, and the Middle East.

Capital deployment stayed above €3.4 billion (about $4 billion) every quarter, a pattern that reflects structural demand rather than opportunistic surges.

The firm's CIO, Robert Walters, told Skift the mood for 2026 is “optimism mixed with a good dose of realism.”

This is a welcome change from 2025's uncertain start. A year ago, tariffs and stock market volatility had cast a shadow over what had been a strong post-pandemic recovery. As it turned out, the mar