JLL expects the Asia Pacific hotel sector to attract $8.5 billion in hotel investment this year.
Scott Hetherington, CEO of JLL Hotels & Hospitality Asia, told the Sydney Morning Herald that last year saw "blockbuster acquisitions of high-profile, gateway market hotels by Chinese investors" as well as "a high volume of hotel deals in Japan with increasing interest from foreign investors."
This year, Hetherington said, JLL expects transaction activity across the region to slow, with a likely to shift to secondary markets in Southeast Asia and the Indian Ocean.
Craig Collins, CEO of JLL Hotels & Hospitality Australasia, said that with a widely expected scarcity of available stock moving forward, competition will be "incredibly strong" this year in the Sydney and Melbourne markets. Collins also predicted an increasing weight of money coming from investment and private equity funds.
External Source : Sydney Morning Herald