As global head of hospitality investment for City Development Limited (CDL), David Ling oversees the Singapore-based company’s investments in hospitality properties globally. The company’s presence in Europe keeps expanding, including the recent acquisition of the Holiday Inn London - Kensington High Street. David Ling shares why he believes Europe offers strong opportunities for global institutional investors, ahead of his participation to IHIF EMEA in Berlin.
Hospitality Investor: How do you assess current investment conditions in the European hospitality sector?
David Ling: Europe provides some of the best institutional grade investment opportunities. It has continued to attract many institutional investors, private equity and sovereign wealth funds. There are high quality assets that are yield accretive and in strong markets where downside risks in income and capital value are minimised. The developed legal framework and established rule of law that welcome and protect investments make Europe compelling to investors from all over the world.
Hospitality Investor: How would you describe your investment mandate in Europe?
David Ling: CDL Group has invested in Europe for several decades and will continue to grow our portfolio of hospitality assets across key markets. In December 2025, we completed the £280 million acquisition of the 706-room Holiday Inn High Street Kensington, the largest single asset hotel transaction in the UK in 2025. This follows our investment in the landmark Hilton Paris Opéra located in the heart of Paris city centre a year earlier from funds managed by Blackstone.
Europe is a diverse region with 44 countries – from Western to Central and Eastern Europe, and Southern Europe to Scandinavia in the north. A wide selection of opportunities in Europe, depending on the return and risk preferences of investors. We are opportunistic and will continue to focus on markets that provides the best shareholder return.
Hospitality Investor: Which hospitality segments do you currently see as the most investable, and how has that assessment changed from last year?
David Ling: The proliferation of lifestyle hotels has transformed the hospitality industry in recent years. From conventional hotels with standard offerings, to lifestyle hotels where there are limitless opportunities for investors and operators to collaborate and create new and exciting experience for travellers.
Some of the brilliant lifestyle hospitality concepts were discovered in Europe. For example, Moxy hotels originated in Europe with its first location opening in Milan, Italy, in 2014. Launched by Marriott International in partnership with Inter Hospitality, the brand was created to target millennial travelers with a stylish and playful hotel concept. CDL is developing one of the largest Moxy in Asia, the 470-key Moxy Singapore Clarke Quay is scheduled to open in Q1 2027.
Another lifestyle example, Generator Hostels started in 1995 in London and Berlin by Louise and Kingsley Duffy. Generator is design-led concept providing stylish affordable accommodation for the young at heart. Patron Capital acquired Generator in 2007 and increased from two to eleven properties. In 2017, Queensgate Investments purchased Generator adding more hostel assets. In May 2025, Brookfield Asset Management acquired Generator Hostels' European operations with some 15 properties, over 2,700 keys.
Hospitality Investor: As you come to IHIF EMEA, which themes or debates do you expect will shape the next phase of hospitality investment in the region?
David Ling: The hospitality industry has yet to harness the full potential of Artificial Intelligence (AI). Much work and collaboration among stakeholders of the hospitality industry needed prior to effective implementation of AI to enhance guest experience and drive operational efficiencies. I look forward to the exchange of ideas and debate among industry colleagues in the upcoming IHIF event.
Hear more from David Ling as he joins the session ‘Inbound investment: The next wave of Asian capital into EMEA’ at IHIF EMEA 2026 in Berlin.