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JLL Predicts $110B in Hotel Sales by Year End

CHICAGO-The predicted $110 billion would be a 52% increase from last year's $72.5 billion in worldwide hotel sales transactions.

By Gina Kenny | Updated on August 07, 2007

CHICAGO-There could be a record $110 billion of hotel transactions this year, according to Jones Lang LaSalle Hotels, part of locally based Jones Lang LaSalle. In the first half of the year, there were $56 billion in transactions and it is predicted the second half of the year will have a similar monetary amount of transactions, says Arthur de Haast, global chief operating officer of Jones Lang LaSalle Hotels. Jones Lang LaSalle Hotels recently released its 14th edition of its Hotel Investor Sentiment Survey.

The high amount of transactions for the first half of the year was influenced by the CNL Hotels & Resorts acquisition by Morgan Stanley and Ashford Hospitality Trust; the acquisition of Equity Inns by Whitehall Street Real Estate Funds; and the acquisition of Highland Hospitality Corp. by JER Partners Acquisitions, de Haast says. The value of the three transactions combined is about 20% of the total transactions for the first half of the year, he says. The volume of transactions is higher, particularly in the North American market, and is driven by “REITS being taken private by the private equity players,” he says. One of the largest transactions in the Americas was the acquisition of the Makena Resort by Morgan Stanley Real Estate Fund V US and the Dowling Co. Inc. for $575 million.

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