During the first six months of 2011, about US$14.8 billion of hotel assets were traded in the United States, 117% more than in the same period in 2010. This move was driven by high levels of liquidity and improvements in the commercial performance of hotels, according to international hotel investment services firm Jones Lang LaSalle Hotels.
Overall, the Americas recorded a growth of 187% with a transaction volume of US$7.4 billion. In Europe, the Middle East and Africa (EMEA), during the same period it reached US$4,700, 84% more than in the first six months of 2010; and in Asia-Pacific, supply volume was US$2.6 billion, up 59%.
Arthur de Haast, Global Head of Jones Lang LaSalle Hotels, said: "Despite the natural, economic and political crises the world witnessed in the early months of 2011, hotel operations continue to gain momentum. Right now we believe that as things are going we will reach $34.8 billion, up 28% from 2010."
According to the document, Real Estate Investment Trusts (REITs) continue to be the most important buyers in America, although private equity investors who were on the sidelines during the crisis, showed a strong recovery in the market in this first half.
However, hotel sales expectations in this region are also positive for this year. According to Arthur Adler, general manager of the firm, for the Americas, "it is expected that in 2011 hotel sales on the continent will reach US$16 billion; amount that can be achieved taking into account the pace recorded so far and large operations such as those of Chatham Lodging Trust and Cerberus Capital Management, in the acquisition of 64 hotel assets for US $ 1.13 billion. "
Finally, the directors of the firm affirm that "hotel investment volumes in the EMEA region are expected to reach US$15.1 billion this year; in Asia about US$2.75 billion and in the Australian continent it reaches US$1 billion.
