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Asia Pacific hotel transactions in 1H2021 fall 18% below 1H2019 peak: JLL

/ EdgeProp Singapore |

July 6, 2021 5:49 PM SGT

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SINGAPORE (EDGEPROP) - Hotel transaction volumes in 1H2021 were 18% below that in 1H2019, which was the peak of the hotel investment market in the Asia Pacific region, according to a report by JLL. Hotel investments in the region clocked in US$3.7 billion ($4.97 billion) in sales in 1H2021, a decline of 3.7% y-o-y. In total, 61 transactions were closed across nine countries. (See also: Hotel Kai at Purvis Street on sale for $28.8 mil)

While investment volumes were relatively low, the completion of several major hotel deals demonstrates the resilience of the sector in the region and the growing confidence of investors in the hospitality markets, says JLL.

“Confidence in the Asia Pacific hospitality sector’s recovery remains high and investor sentiment continues to view the industry through a longer-term lens. Volumes have held up well against the backdrop of government lockdowns and travel curbs, with the hotel sector’s resilience remaining an evergreen theme throughout the pandemic,” says Mike Batchelor, CEO, Asia Pacific, at JLL hotels & hospitality group.

China, Japan and South Korea were the most active hospitality markets in the Asia Pacific in 1H2021, accounting for 86% of hotel transaction deals.

“It is clear there remains a gap in pricing across most of the key markets. However, for the most part, the region’s hotel owners are not under any stress owing to relatively low gearing, strong lender relationships and, depending on jurisdiction, broader government support,” says Nihat Ercan, senior managing director, head of investment sales, Asia Pacific, at JLL Hotels & Hospitality Group.

JLL says that Australia and Japan top the list as destinations for offshore capital inflows, and domestic demand is driving activity in China and South Korea. Leisure markets in Maldives, Phuket, Koh Samui and Bali are expected to see more sales concluding in 2H2021.

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