Investments in hotels surge due to demand
Print Edition
HOTEL investments in Asia more than doubled in the first nine months of this year as robust tourism markets across the region saw the industry register its strongest year since 2008.
The investments surged 145 percent year on year to US$3.9 billion between January and September. In the third quarter, hotel investments rose 41 percent annually to US$1.2 billion.
“Hotels in Asia have seen a significant turnaround over the past two years,” said Mike Batchelor, managing director of investment sales, hotels & hospitality, Jones Lang LaSalle.
“Going forward, we are aware of approximately US$1.3 billion in contracts that will contribute to a very strong pipeline over the remainder of the year.”
Singapore, which saw strong demand from overseas investors given its consistently high occupancy rate and tourist arrivals, contributed 16 percent of the region’s investment transactions year to date, the firm said.
Buyers are also turning to Thailand, Seychelles and the Maldives as “the demand from private and institutional investors will ensure transactions remain healthy,” Batchelor said.
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