Strategic Meetings Summit London, 26 September,
September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
Property investment specialist Jones Lang La Salle Hotels reported a 53% hike in global hotel sales between January and March.
First quarter results showed global transactions reached $2.8 billion.
Europe, the middle east and Africa (EMEA), with $1.1 billion of hotel sales over the period, was the most active region - a 46% increase on 2009.
The UK accounted for $324 million of hotel sales in Q1 2010, a significant increase on the $92 million worth of transactions in the first quarter of 2009.
The Americas and Asia Pacific recorded Q1 sales of $991 million (+70%) and $736 million (+43% ) respectively.
Arthur de Haast, global CEO for Jones Lang LaSalle Hotels, said he had seen a "noticeable increase" in the number of hotels on the market, due to "increased sale activity from banks and other lenders who have taken control of more assets over the last year in an attempt to reduce their hotel loan portfolios".
"The global hotel investment market during 2009 was plagued by a deficient debt market and a lack of quality stock, but the start of 2010 is already showing healthy signs," said de Haast.
"While buyers and lenders remain cautious, funding is increasingly available for the right deals and coveted prime assets in key gateway cities are becoming more available."