US hotel buyers overwhelming sellers
US hotel buyers outnumber sellers by a margin of five to two, showing a strong appetite for hotel ownership, according to a survey.
“The sell ranking is at its highest since the inception of this survey in July 2000,” said Kristina Paider, senior vice president of research and marketing for Jones Lang LaSalle Hotels.
She said investors are trying to take advantage of capital appreciation over the last several years. The favorable pricing environment is also contributing to demand.
During the first six months of this year, hotel transaction volume reached $21 billion, which surpassed all of the entire 2005 volume.
In-demand hotel markets include Hawaii, Los Angeles, Washington, DC, Vancouver, San Francisco, Chicago and New York.
“Vancouver is a new entrant to the top ‘buy’ rated markets, which is attributable in part to its host role in the 2010 Winter Olympics,” said Jones Lang.
The company’s survey is the only global one of its kind, according to Jones, a leading hotel investment services firm.
Report by David Wilkening
David
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