Despite economic headwinds and the Euro crisis, Belgium's tourism industry showed impressive resilience with arrivals and overnight stays increasing by 4.4% and 3.1% in 2011 respectively, compared to 2010. Due to a buoyant corporate and government market, hotels in Brussels posted a 4.5% growth in RevPAR in 2011. Trading results at the beginning of 2012 have been encouraging and continued growth in RevPAR for the remainder of 2012 is expected.
Hotel transaction activity in Belgium remains subdued although investor interest remains for quality assets in Brussels. Due to a limited supply pipeline and robust tourism demand we anticipate a slight uptick in investment activity in 2012.
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