MIAMI—Hotel transaction activity and development is set to pick up as investors seek new opportunities in the global hospitality sector over the next 12 months. So says Ernst & Young's Global Hospitality Insights 2014.

Following years of a slow and stubborn recovery and constrained capital budgets, the global hospitality sector witnessed a strong appetite for growth in 2013. That trend that is set to continue and pick up pace in 2014.

E&Y's report follows 13 trends expected to have major impacts on the hotel sector in 2014 and anticipates strengthening fundamentals providing a basis for solid financial performance in 2014. Most importantly, hotel companies are finding greater access to a variety of debt and equity capital sources across both public and private platforms, making further expansion possible.