Sustained upturn in 2011
Across the globe most hotel investment markets are exhibiting stronger-than-expected signs of recovery. Trading fundamentals continue to improve and investor confidence remains upbeat – setting the stage for a sustained upturn in 2011. For the full year 2010, we are now anticipating transaction volumes to increase by approximately 85% over 2009 to finish the year at US$17-18 billion*, substantially higher than our previous forecast of US$12-14 billion
Barring any unforeseen circumstances, we are expecting another year of substantial growth in 2011. In the latest November 2010 edition of Jones Lang LaSalle Hotels’ Hotel Investor Sentiment Survey (HISS), market optimism is reflected in the notable increase in investor expectations for global short-term trading (+10.9% to 11.7%), with positive short-term trading now expected in 61 of the 97 markets tracked. Yield requirements have also continued to firm up over the past six months, with capitalisation rates falling 50 basis points to 8.3% and leveraged IRRs falling 110 basis points to 17.0%
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