Global Hotel Transactions to Rise 28% in 2011

14th July 2011 (Last Updated July 14th, 2011 18:30)

Global hotel transactions are to increase by 28% to $34.8bn this year, according to Jones Lang LaSalle Hotels. Lodging transactions increased to $14.8bn in the first half of 2011, up by 117% a year ago, the report revealed. Acquisitions in the Americas increased by 187% to st

Global hotel transactions are to increase by 28% to $34.8bn this year, according to Jones Lang LaSalle Hotels.

Lodging transactions increased to $14.8bn in the first half of 2011, up by 117% a year ago, the report revealed.

Acquisitions in the Americas increased by 187% to stand at $7.4bn, driven by deals in large cities such as New York.

According to Smith Travel Research, hotel occupancies in the top 25 US markets rose to 65% through May 2011, from 62% a year earlier.

Sales of lodging properties in the Americas are expected to reach $16bn in 2011, up from Jones Lang LaSalle’s previous forecast of $13.1bn.

Jones Lang LaSalle Hotels CEO-EMEA Mark Wynne Smith said hotel investment volumes across EMEA are expected to rise to $15.1bn, a $2bn increase on the previous forecast.