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11 Jan 2013
Hotel deals expected to reach US$32bn in 2013
BY
Aoife Dowling
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Hotel deal volumes are expected to reach US$32bn (£19.8bn, 24bn euro) globally during 2013, according to research carried out by Jones Lang LaSalle's Hotels and Hospitality. The group’s Hotel Investment Outlook Report found that a number of buyer groups will remain interested in acquiring assets.
Cross-border capital, which accounted for 30 per cent of global hotel investment in 2012, could also accelerate in 2013.
The report predicts that global debt availability will to be at its highest level since 2007, while private equity and real estate investment trusts (REITs) will dominate purchasing activity with 60 per cent of the global market.
Meanwhile, private equity investors are expected to continue to lead the pack by achieving opportunistic returns through their buying power and risk tolerance.
REITs, net buyers throughout 2012, will continue to make headline acquisitions of core properties in gateway markets.
This was found to be particularly true in North America and Asia Pacific where two new hotel REITs in Singapore have been listed.
Funds from the Middle East will continue to seek opportunities to export capital in 2013.
Mark Wynne-Smith, global CEO of Jones Lang LaSalle's Hotels & Hospitality Group said: "Inadvertent hotel owners, like banks and receivers, will continue to drive a significant share of hotel product to market.
"We also expect institutional investors to liquidate select non-core assets that will create opportunities for value-add investors."
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