Asia hotel investment in 2013 soars 218%
Print Edition
HOTEL investment volume in Asia more than tripled in 2013, making it the strongest year after the global financial crisis, a report released yesterday said.
Defying all industry expectations, hotel investment deals valued at US$7.5 billion were concluded in Asia last year, a rise of 218 percent from 2012, according to the report by JLL’s Hotels & Hospitality Group. In 2007, the transaction volume of hotel investment deals reached US$10.3 billion across the region.
Singapore, Japan and the Chinese mainland led the region’s growth in 2013 with Japan topping the overall investment volume at US$2.7 billion, a year-on-year surge of 480 percent as hotel trading performance improved in line with expansion of the domestic economy as well as renewed growth in corporate and leisure travel.
Singapore, mainly boosted by the sale of Grand Park Orchard hotel and Knightsbridge retail, the city-state’s largest single asset transaction to date, saw transaction volume soar over 10 times from 2012 to US$2 billion.
It was followed by the Chinese mainland, which recorded US$1.1 billion of transactions as recent government announcements to improve access drove investor sentiment over the second half of 2013, JLL’s Hotels & Hospitality said.
“Strong investor sentiment and, importantly, the availability of quality hotel assets were key reasons behind Asia’s impressive sales volume in 2013 which was hindered only by the availability of additional stock as many owners increasingly hold off selling assets in anticipation of further market growth,” said Mike Batchelor, managing director of investment sales at JLL’s Hotels & Hospitality.
“Mature hotel markets such as Singapore continue to be governed by well capitalized, inter-generational investors and as the stock becomes increasingly limited, investors are now starting to look further afield once again at new and emerging markets in the region in the search for greater yield and capital growth opportunities.”
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