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Total hotel investment volumes for APAC up 13.2% in 1H2016, says JLL

By Tan Chee Yuen

/ JLL |

July 25, 2016 4:59 PM SGT

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The total hotel investment volumes across the Asia Pacific for 1H2016 climbed 13.2% y-o-y to US$3.8 billion ($5.2 billion) as yields recovered to pre-global financial crisis levels, according to a report released by JLL.

JLL’s Hotel Investment Highlights report stated that there were some 14,025 keys traded across the Asia Pacific region in 1H2016, compared to 10,976 keys in 1H2015.

The top 10 single-asset transactions in Asia Pacific for 1H2016 collectively amounted to almost US$1.7 billion. Japan dominated the list with five deals worth US$2.1 billion, followed by Australia (US$278 million), Mainland China (US$252.6 million), Vietnam (US$237.6 million), Taiwan (US$217.6 million) and Thailand (US$138.3 million). The most notable transaction was Hulic’s US$604.7 million purchase of Grand Pacific Le Daiba in Tokyo from railway operator, Keikyu in May.

“Despite the relatively sharp pricing in first-tier cities, there remains significant appetite from investors for deals in markets with strong domestic and international visitation fundamentals,” says Mark Durran, Managing Director, JLL’s Hotels & Hospitality Group in Australasia.

Domestic investors in the region dominated the overall capital flows, accounting for 80% of all deals above US$5 million. Australasia continues to attract the highest capital inflows with cross border investors emerging as the dominant purchasers of hotel real estate over recent years.

Meanwhile, Asian buyers continue to be attracted by relatively higher property yields and the safe haven appeal of proven investment markets abroad.

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