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20 June 2012
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German hotel deals focused on mid-sized segment so far - Christie
Most deals in the German hotel sector this year have taken place in the medium-sized segment, e10m in value and below, while large and chain transactions have barely seen any activity, according to hotel consultancy group Christie + Co. Christie's Markus Beike said: "Transaction volume in the medium-sized sector tend to be in the single-digit million euro area, and the equity proportions of up to 50% generally demanded by banks in these deals as condition for lending are normally not a real obstacle." In the large-hotel and chain segment, the traditional mortgage and private banks which lent heavily in past years on such deals, even at the expense of lower margins, are out of the market now.