Despite 2017 being a year of political surprises and, seemingly, never ending Brexit negotiations, Colliers International’s hotels agency division transacted on over £2.2bn worth of UK hotels stock throughout the year.

The firm says that sales were boosted by the weak pound, low interest rates and poorly performing savings accounts, ISAs and pension schemes, which Colliers believe will continue to encourage hotel deals throughout the next 12 months.

Both the UK economy and real estate market have shown demonstrable resilience with total transaction volumes reaching £55bn in 2017. Colliers believes that renewed business confidence will increase demand for quality commercial real estate, with volumes expected to once again exceed £50bn in 2018.

Julian Troup, head of UK hotels agency at Colliers, said: “The specialist hotels team at Colliers has sold or acquired 202 hotels throughout the UK in the past two years and we expect to grow further in 2018. As long as the ensuing Brexit negotiations do not impact negatively on consumer confidence, and consequently the UK economy, we anticipate no material changes to the level of UK transactional activity during 2018.”