Property Types
Hospitality
Jul 20, 2009
Even as more and more preconditions of a global economic recovery are being met, the path toward a commercial property market rebound is uneven and yielding divergent regional trends. Occupancy, ADR, property values, transaction pricing levels, and debt availability are all showing evidence of this uncertainty, according to a new report by Jones Lang LaSalle.
The latest edition of Jones Lang LaSalle's Global Market Perspective offers commentary on recent economic developments and emerging trends in global property markets. Highlights include:
• In the hotel sector, transaction volume remains very thin. In the first six months of 2009, completed transactions were similar to that which occurred during the same six-month period in 2002, one of the worst periods on record.
• Overall debt availability remains depressed around the world, although there are instruments that offer simplicity and transparency.
• In the Americas, opportunities in Brazil are particularly attractive, and the country's hotels are among the most attractive in the country, thanks to above-average RevPAR and an emerging middle class.
• Transaction activity may be picking up in Asia, where a recent sale of an office building in central Tokyo marked the first cross-border deal in Japan in roughly 18 months.
• In Europe, some $5 billion in transactions occurred in June alone, with the bulk occurring in the UK. Notable transactions also took place in France, Spain, Italy, Holland, and he Nordics. This recent activity should mean that second-quarter European transaction volumes rival, or even slightly exceed, first-quarter results.
Even as more and more preconditions of a global economic recovery are being met, the path toward a commercial property market rebound is uneven and yielding divergent regional trends. Occupancy, ADR, property values, transaction pricing levels, and debt availability are all showing evidence of this uncertainty, according to a new report by Jones Lang LaSalle.
The latest edition of Jones Lang LaSalle's Global Market Perspective offers commentary on recent economic developments and emerging trends in global property markets. Highlights include:
• In the hotel sector, transaction volume remains very thin. In the first six months of 2009, completed transactions were similar to that which occurred during the same six-month period in 2002, one of the worst periods on record.
• Overall debt availability remains depressed around the world, although there are instruments that offer simplicity and transparency.
• In the Americas, opportunities in Brazil are particularly attractive, and the country's hotels are among the most attractive in the country, thanks to above-average RevPAR and an emerging middle class.
• Transaction activity may be picking up in Asia, where a recent sale of an office building in central Tokyo marked the first cross-border deal in Japan in roughly 18 months.
• In Europe, some $5 billion in transactions occurred in June alone, with the bulk occurring in the UK. Notable transactions also took place in France, Spain, Italy, Holland, and he Nordics. This recent activity should mean that second-quarter European transaction volumes rival, or even slightly exceed, first-quarter results.
Recent Hospitality Headlines
Aug 06, 2009
Aug 05, 2009
Aug 05, 2009
Aug 04, 2009
Jul 27, 2009
Subscribe to this blog's feed
