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The German hotel investment market recorded 鈧�596 mln worth of transactions in Q1 2013, continuing the momentum from the second half of 2012, according to Colliers International.

'When compared to the first quarter of last year, Q1 2013 translates to an increase of almost 400%,' said Andreas Trumpp, head of research at Colliers International in Germany.

'Although the results were primarily driven by the sale of the Queens Moat Portfolio, which was purchased by an investor consortium spearheaded by the Fattal Group at around 鈧�300 mln, it would have still been the best start into the year for the hotel investment market since 2007 without that deal'.

Portfolio deals accounted for more than half of overall transaction volume - the sale of the Queens Moat Portfolio consisted of 20 hotels from brands including Holiday Inn, Best Western and Queens Hotel.

The remaining 50% came from a total of 20 individual transactions. Among the largest of these individual transactions were the sale of the 鈥淔our Seasons鈥� in Hamburg to the Dohle Group and the sale of the Holiday Inn near O2 World, which was facilitated by Colliers Hotel. 8 hotels were sold for under 鈧�5 mln each, making up a market share of more than 3% at almost 鈧�20 mln.

Foreign buyers invested around 鈧�461 mln in German hotels in Q1 of 2013, with the largest portion coming from the Queens Moat Portfolio.

In keeping with the 2012 trend, the majority of investor capital was for middle-class hotels (3-4 stars) in the first three months of 2013 as well as investment into existing properties. With ten deals in this market, national and international buyers invested approximately 鈧�391 mln. Three hotels from the 5-star sector changed hands for approximately 鈧�140 mln, and 7 hotels from the 1-2 star sector were sold for almost 鈧�63 mln.

'Approximately two-thirds of the transaction volume can be attributed to the top locations Berlin, Dusseldorf, Frankfurt am Main, Hamburg, Cologne, Munich and Stuttgart. In these locations, the transaction volumes per deal, averaging at 鈧�29 mln, were also significantly higher than in secondary locations at only just below 鈧�5 mln,' Trumpp said.