April 6, 2021 | 12:02 am Font Size
PHILIPPINE STAR/ MICHAEL VARCAS
HOTELS in the Philippines can be optimistic about recovery in the long term as local tourism and staycations drive up demand, but most Asia Pacific investment interest this year is focused on other countries, JLL Philippines said.
The real estate services firm said that the hospitality industry was one of sectors most affected by the pandemic last year, yet Philippine hotel operators are optimistic that the industry would transition into recovery.
“Most hotel operators are trying to determine the best estimated return of airline traffic. Hotels definitely see tourism picking up as soon as flight restrictions are lifted it is only a matter of timing, which is heavily dependent on the roll-out of the COVID-19 vaccine. Local tourism and staycations are also being encouraged to push demand,” JLL Philippines Head of Capital Markets Ryan Isip said in a press release on Wednesday.
Investors seeking more Asia Pacific hotel assets in 2021
Investors seeking more Asia Pacific hotel assets in 2021
BANGKOK: Investors are confident in the long-term future of the Asia-Pacific hotels market despite ongoing COVID-19 pressure on the tourism and hospitality sectors, says JLL. According to investors surveyed by JLL, approximately 70% say they are bullish on the Asia-Pacific hotel market and are interested in deploying capital into the sector in 2021.
For its Hotel Investment Outlook report, JLL polled approximately 100 clients in late January 2021. Image: JLL
JLL is forecasting approximately US$7 billion in transactions in 2021, an increase of 20% year-on-year, up from $5.8 billion in 2020. While sizable pools capital are ready to be deployed, pricing and financing will become a larger consideration for investors. According to JLL, the gap between buyer and seller price expectations will narrow as distress becomes less likely, while sellers come to terms with the impac