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HOTEL INVESTORS BAILING OUT

WITH NO IMMEDIATE prospect of an economic upturn, hotel investors in Dublin, Lisbon and parts of Spain are pulling out of the hospitality industry, according to the latest Hotel Investor Sentiment Survey (HISS) from property agents Jones Lang LaSalle.

A "lack of pricing consensus" elsewhere in Europe has persuaded investors to hang on to their hotel assets and wait for better times. However, Jones Lang LaSalle Hotels' EMEA chief executive, Mark Wynne- Smith, says deteriorating economies could see struggling hotels snapped up in key gateway cities, notably London and Paris.