It is diversity that characterizes tourism assets in the first place: independent hotels or hotels affiliated to a chain, oriented business or leisure tourism, hotel residences, boutique hotels, resorts... A diversity that can be found in the establishments: large capitals, seaside, mountains...

A major feature, and common to all assets, is that they must be regularly rearmed in order to be modernized or updated. Customer expectations are changing – especially when it comes to services – trends are changing, environmental requirements too: so many factors that can lead to an adaptation of the establishment which can range from decoration to a total redesign of spaces. The experts at BNP Paribas Real Estate Valuation France can play an advisory role by proposing several valuation scenarios.

For several years, there has been both a densification and a diversification of players interested in the hotel and parahotel sectors. Private investors see in this type of asset an interesting diversification opportunity. 

Tourstic assets offer a number of advantages over other types of tertiary real estate assets: holding structure generally involving a single tenant or operator, sustainability of cash flows, minimum vacancy, advantageous taxation, creation of capital gains through transformation or renovation and above all an attractive risk/return combination.