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London hotel real estate more attractive than New York

Posted on 09 May 2013

London is outpacing New York in the real estate market - especially with wealthy buyers from overseas, analysts say. InterContinental Hotels Group PLC is still waiting to sell the InterContinental New York Barclay hotel, one of its limited number of trophy properties, but it had no problem marketing another of its key assets in London recently.
The world’s biggest hotelier by number of rooms flagged the sale of the 87-year-old Barclay in early 2011 to take advantage of its location in the heart of midtown Manhattan’s exclusive East Side. It found an exclusive buyer, but the talks then broke down. Analysts said the property was “tired” and IHG was forced fund a renovation………………………………….Full Article: Source


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