Investors are showing renewed interest in luxury and upper-upscale hotels in major cities around the world. After a resilient 2024—marked by 4.8 billion global room nights and a 4% rise in RevPAR—the hotel market has continued to grow, albeit with varying performance across regions. Regional differences shape investment choices Europe and the Americas have largely returned to pre-pandemic levels, while Asia-Pacific is still catching up. China’s travel market is slowly rebounding, offering significant gr ...