CHICAGO-As the US 2012 hotel transaction volume has reached $5.1 billion, almost half of the respondents to a Jones Lang LaSalle Hotels investment survey said they are looking to buy assets in the next six months. With an added increase in selling in North America, transactions should hit $15 billion this year, according to JLL.

According to the company’s Americas Hotel Investment Survey, directed toward the world’s 6,000 leading hotel investors and owners, 45.7% of respondents said they plan to acquire assets in the next six months. The most popular buy regions, according to the survey, are, in order, Hawaii, Chicago, Boston and Miami, as the markets have witnessed double-digit growth in RevPAR in the past year. Vancouver and Mexico City are also popular “buy” locations.

Arthur Adler, managing director and Americas CEO for JLL Hotels, tells GlobeSt.com that the previous survey had been more full of “hold” sentiment. “Hotel investors are once again eager to buy,” he says. “The increase affirms our view that there is significant demand among private equity and institutional investors, and increasingly, REITs, to make hotel investments at a favorable basis.” Trusts had dominated during the first half of 2011, and following the second half pull-back, should be increasingly active again this year, Adler says.

About 10% of investors in the survey said they want to sell assets, which is the highest amount since 2008, as owners want to get out of impending debt maturities, create liquidity and get cash through valuation. Sellers are looking to divest the most, in order, in Orlando, the Mexican resort communities, Tampa and Dallas, according to the survey. Conversely, owners aren’t really looking to sell in Canada, with an eye toward capital appreciation.

Almost half of the buyers are looking for upscale (though not luxury) properties in the United States. Also, single asset hotel transactions are dominating the landscape, accounting for 70% of deal volume, according to a separate JLL statement.

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