Investment in EMEA hotels fell by over 50% in 2009 according to new research from Cushman & Wakefield Hospitality. Total investment volumes totalled €3.2 billion in 2009 (against €6.4 billion in 2008) with 50% by value being distressed sales. The 2009 total was an 85% fall on 2007’s record figure of €19.8 billion.