JLL Hotels & Hospitality Group today announced it received three awards at the Hotel Investment Conference Asia Pacific (HICAP) event held in Singapore on October 21. The firm was recognized for the Single Asset Transaction of the Year for the Hilton Sydney, Merger & Acquisition (M&A) of the Year for W Maldives and Sheraton Maldives Full Moon Resort & Spa, and the Rising Star of the Year for Calvin Li, Executive Vice President, Head of Transaction Advisory Services, Asia Pacific.
A combination of pent-up demand, a resurgence of cross-border transactions, and a buoyant travel industry, will lift Asia Pacific hotel investment to over US$10.7 billion in 2022. According to analysis in JLL (NYSE: JLL) Hotels & Hospitality Group’s Hotel Investment Highlights Asia Pacific 2H 2022, investment volumes are projected to increase by 14% year-on-year as normalcy returned to the market with the resumption of broad leisure and business travel in the region.
To say that the hospitality industry has had a rough time over the past two-and-a-half years would be a gross understatement. The COVID-19 pandemic pulled the rug out from under the sector as lockdowns and travel restrictions were imposed.
Hotel investment in Asia Pacific will continue to recover in the fourth quarter of 2022 and into 2023 with more investors looking to deploy the highest levels of capital since the pandemic started. According to JLL’s Hotels & Hospitality Group’s latest Global Hotel Investor Sentiment Survey, approximately 80% of investors plan to be net buyers in 2022.