04/27/2026
Why the world's most sophisticated investors are making a major move into hospitality real estate right now.
The answer I hear most often when I mention hospitality to serious investors?
"It's too volatile. Too operational. Too risky."
I get it.
And that's exactly why the opportunity exists.
What most people miss about this sector:
A hospitality asset isn't just real estate.
It's a hybrid: a physical asset and an operating business combined. Where an office building generates a fixed lease, a hospitality asset captures rising demand in real time: through dynamic pricing, F&B, events, wellness.
When demand goes up, revenue follows. Immediately.
The numbers speak for themselves:
→ $57.3B invested in global hospitality in 2024, per JLL, with a projected 15-25% growth for 2025
→ €17.4B in European hotel transactions
→ Blackstone, Starwood, and KKR accounted for nearly a quarter of European deals
These aren't speculative investors. They allocate capital with discipline.
The real question isn't "is it too risky?"
It's "why are the best capital allocators in the world increasing their exposure right now?"
What the best academic research says:
Emma Näpänkangas at EHL, École Hôtelière de Lausanne, the world's leading hospitality business school, recently published one of the most comprehensive guides to hospitality real estate investing available today.
Her conclusion on strategy is clear: the most attractive window right now is value-add. Acquiring underperforming or mismanaged assets with clear repositioning potential. Target IRRs between 12-18% on European assets, according to CBRE.
As one EHL alum and Colliers analyst put it:
"What makes hospitality real estate so remarkably unique is how closely operations and experience tie into asset value. Brand selection, guest journey design, even decisions like whether to include wellness or F&B concepts can materially impact performance."
That's not a soft observation. That's a due diligence checklist.
My own connection to EHL goes further than my studies there.
When I was developing the Serendipia Hotels project, I invited EHL students to conduct a full financial and strategic analysis of the asset: market positioning, revenue projections, operational model, competitive benchmarking.
Their analysis reinforced the thesis. That's the most credible signal I can share.
I'm currently developing a community-driven hospitality asset in Brussels. Multiple revenue streams, value-add entry point, a loyalty model that depends on no distribution platform.
The doors aren't open yet.
But I'm building the list of people I want in the room when they are.
Follow this profile if you want to understand how hospitality deals are really structured. No jargon, no fluff.
If that's you, reach out directly : Jean-Loïck Michaux, on WhatsApp : + 1 415 952 0586