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Hotel sales to boom in Asia Pacific, report says
By Cherry Cao |
February 21, 2013, Thursday
|
Online Edition
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HOTEL sales activities are expected to rise in Asia Pacific this year amid strong investment sentiment to buy hotel assets in the region, according to an industry report.
Hotel transaction will reach US$3.5 billion in 2013, Jones Lang LaSalle predicted today in its newly released hotel investment outlook report. That compared to US$3.3 billion in 2012, which saw a year-on-year drop of 30 percent.
Australia and Japan, among others, will likely see the lion's share of investment dollars while pockets of activity will be seen across the rest of the region, the report said.
For China, the mid-scale hotel market -- currently under-represented from a brand and investment-grade product perspective -- will be an exciting segment to watch over the next five years as a wealthier traveling middle-class point to a significant opportunity.
However, while more investors will look to acquire or develop hotel assets in Asia Pacific as they seek to secure a foothold in the region, a low level of established product for sale is supposed to widen the pricing gap between buyers and sellers and slow the pace of transaction activities.
Regionally, investor appetite for acquisitions is strongest for Phuket, Ho Chi Minh City, Auckland, Osaka and Tokyo, Jones Lang LaSalle said.
Hotel transaction will reach US$3.5 billion in 2013, Jones Lang LaSalle predicted today in its newly released hotel investment outlook report. That compared to US$3.3 billion in 2012, which saw a year-on-year drop of 30 percent.
Australia and Japan, among others, will likely see the lion's share of investment dollars while pockets of activity will be seen across the rest of the region, the report said.
For China, the mid-scale hotel market -- currently under-represented from a brand and investment-grade product perspective -- will be an exciting segment to watch over the next five years as a wealthier traveling middle-class point to a significant opportunity.
However, while more investors will look to acquire or develop hotel assets in Asia Pacific as they seek to secure a foothold in the region, a low level of established product for sale is supposed to widen the pricing gap between buyers and sellers and slow the pace of transaction activities.
Regionally, investor appetite for acquisitions is strongest for Phuket, Ho Chi Minh City, Auckland, Osaka and Tokyo, Jones Lang LaSalle said.
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