Hotel property valuations in the UK could fall by as much as 20% because of the economic downturn, experts have predicted.
The warning came after it emerged that Marylebone Warwick Balfour has lowered last year's £700m asking price for Malmaison and Hotel du Vin to £650m.
Industry watchers said that, although transactions have been thin on the ground this year, hoteliers will be forced to make price corrections of between 10% and 20% in the coming months if they wish to sell.
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