Investors are snapping up shares of some Europe's biggest hotel chains, the Financial Times reports, as the market bets that more private equity firms will tuck into new cross-Atlantic deals. They're inspired by Blackstone's $26 billion Hilton offer, and a banner year for hotel buyouts more generally.
Targets could include the UK's Intercontinental chain, France's Accor, and Spain's Sol Melia. But some market analysts are doubtful. They point out that Hilton’s attractiveness stemmed in part from its activity in real estate investment trusts—a sphere most European chains have yet to enter. Europeans shouldn’t get their hopes up, says one hospitality sector i-banker. "The North American market is different."