According to Jones Lang LaSalle’s most recent report, Asia’s hotel transaction volumes have doubled since last year.
Investments in the tourism markets in Singapore, Hong Kong and Tokyo resulted in a 85% increase from last year, with transaction volumes reaching $1.3 billion during the first half of 2013. Tourism in Thailand and the Maldives also contributed to the surge.
Mike Batchelor of JLL said: “During the first half of 2013, we have seen a growing number of transactions, including those at the portfolio level, and improved investor sentiment translate to increased sales. The divergence between vendor and purchaser expectations that served to restrict investment activity in 2012, has improved this year leading to a number of landmark transactions in the first half.”
“Throughout Asia, we are also aware of circa $400 million in hotel transaction volumes to be confirmed soon and a further $1 billion in due diligence.”