Investors are beginning to return to the global hotel market following the economic downturn, new research has claimed. Indeed, transactions over the course of the year are expected to hit USD18 billion, up 85 per cent in terms of volume compared to 2009.
According to Jones Lang LaSalle, this growth is being driven in particular by interest in property in the Europe, Middle East and North Africa region, which recorded USD5.2 billion in sales for the first three-quarters of 2010.
Arthur de Haast, Jones Lang LaSalle Hotel's global chief executive, said: "The positive investor sentiment for hotel real estate assets
witnessed at the start of the year has continued and even accelerated, resulting in a more active hotel investment market.
Mr Haast added that interest from overseas investors was featuring strongly in Europe, with domestic capital accounting for just over a third of deals in the period and inter-regional investors contributing another 13 per cent, with the remainder coming from investors in the USA, Middle East and North Africa.
- Wednesday 03 November 2010