1、Hotel InvestmentHighlightsAsia PacificSecond Half 2022Hotels&Hospitality GroupTop 10 Single Asset TransactionsHilton Millenium SeoulSeoul,South KoreaPrice USD:929,800,000Price per key USD:1,367,0001Hyatt on the BundShanghai,ChinaPrice USD:720,000,000Price per key USD:1,141,0002Hilton SydneySydney,Au

2、straliaPrice USD:361,100,000Price per key USD:615,0003Hotel Prima SeoulSeoul,South KoreaPrice USD:337,100,000Price per key USD:2,809,0004Orchard Hills Residences Singapore MGallery*SingaporePrice USD:195,600,000Price per key USD:1,164,0005Hotel Sav Hong KongHong KongPrice USD:214,600,000Price per ke

3、y USD:553,0006Hotel Crown ItaewonSeoul,South KoreaPrice USD:210,375,000Price per key USD:1,238,0007Rosedale Hotel KowloonHong KongPrice USD:178,750,000Price per key USD:411,0008Sofitel SO/SingaporeSingaporePrice USD:172,800,000Price per key USD:1,290,0009Ritz-Carlton Kyoto*Kyoto,JapanPrice USD:170,2

4、00,000Price per key USD:2,592,00010*Partial share sale*Price for hotel component onlyHotel Investment Highlights Asia Pacific|Second Half 2022|3 2|Hotel Investment Highlights Asia Pacific|Second Half 2022 AustralasiaAsiaAsia PacificAsia Pacific hotel transaction volume to exceed USD10.7 billion in 2

5、022,a 14 per cent increase y-o-yYear-to-date 202215 countriesYear-to-date 202112 countriesYear-to-date 2022more than20,350 keysYear-to-date 2021more than23,600 keysYear-to-date 2022123 hoteltransactionsYear-to-date 2021139 hoteltransactionsTotal Investment VolumeAverage Priceper Key*Year-to-date 202

6、2US$0.8 billionYear-to-date 2021US$1.3 billionYear-to-date 2022US$317,000Year-to-date 2021US$253,000Year-to-date 2022US$7.6 billionYear-to-date 2021US$5.9 billionYear-to-date 2022US$481,000Year-to-date 2021US$348,000US$8.4 billionYear-to-date 2021US$7.2 billionYear-to-date 2022US$455,000Year-to-date

7、 2021US$331,000Year-to-date 2022Disclaimer:Total figures might differ due to rounding up effect*Price per key on single asset transactionsHotel Investment Highlights Asia Pacific|Second Half 2022|5 4|Hotel Investment Highlights Asia Pacific|Second Half 2022 The Great Return:Getting back on trackAs t

8、he first rays of sunlight illuminate Tokyo,crowds of office workers begin to fill Marunouchi,one of the Japanese capitals main business districts.The trains are full,while queues form at the local coffee bars.After being confined at home for the better part of the past two years,the crowds and the s

9、miles are back.Similar signs of recovery emerged across the Asia Pacific region in 2022,catalysed by increasing vaccination rates and the reopening of borders people are returning to the office,resuming social activities and starting to travel again.Led by the surge in inbound tourism and corporate

10、business demand,investments in the hotel sector also roared back in style.Total transaction volumes in Asia Pacific in the first nine months of 2022 hit US$8.4 billion,a 16 per cent year-on-year growth.Portfolio sales of US$2.6 billion mainly in Japan and Australia were recorded for the first time s

11、ince COVID-19 as institutional investors sitting on dry powder looked to deploy capital more efficiently in core markets.In line with JLLs projection,sales are expected to exceed US$10.7 billion for the whole of 2022,with several powerhouses already spending big.Fresh from the highs of the Tokyo Oly

12、mpic Games,Japan reclaimed its crown as the most active investment market in the region as transaction volumes reached about US$2.3 billion,a 23 per cent rise in the year to date.Meanwhile,South Korea achieved a new historic peak of US$1.8 billion in sales in the first three quarters of 2022.It gene

13、rated the second most sales in the Asia Pacific behind only Japan in that period,led by several owners selling their hotels for conversion to alternative uses.Asia Pacific Historical Investment Growth 2016 to 2023Source:JLL-2.04.06.08.010.012.014.016.02001920202021YTD Sep 20222022F2023FUS

14、$BillionsJapanAustraliaSingaporeChina(incl.Hong Kong)ThailandMaldivesOthersTotalChina is not far behind,recording US$1.2 billion by September,while Australia rounds off the Big Four with US$696 million.With domestic and offshore investment flowing in,the quartet accounted for 72 per cent of the year

15、s total investment activity.Transactions in urban locations represented US$5.7 billion in the year-to-date September 2022,representing 81 per cent of 2019 levels.However,sales of resort assets grew at a stronger pace to reach US$911 million,exceeding pre-COVID levels by 34 per cent,underpinning inve

16、stors confidence in the recovery that was driven in the first instance by pent-up leisure demand.But the Great Return has also brought the return of inflation and higher interest rates,which will influence sales and investors underwriting in the near term.Despite the headwinds,there is cause for opt

17、imism.As more tourists jet off to their favourite destinations like the old times,the hotel investment market is nevertheless poised to embark on a journey back to normalcy.+6%Hotel Investment Highlights Asia Pacific|Second Half 2022|7 6|Hotel Investment Highlights Asia Pacific|Second Half 2022 But

18、investors are seeing roadblocks,with the availability of investment-grade product posing the biggest challenge.There is mounting pressure on the industry as institutional capital is outstripping the supply of hotels available for acquisition in Asia Pacifics markets.As successive interest rates hike

19、s hit,and talk of recessionary pressures intensifies,potential buyers are either taking a more conservative approach in their pricing while others are observing how global developments play out before making their move.Investors in the meantime are also becoming more creative with the use of their r

20、eal estate to maximise their income potential.Despite the pandemic,the alternative accommodation sector has proven to be resilient,and the blurring of real estate sectors is accelerating the growth of alternative accommodations across all regions.The co-living sector is enjoying notable growth and i

21、s emerging as a popular alternative accommodation type across Asia Pacific.One thing is for sure with rising interest rates,all roads now lead to debt.JLLs most recent survey of investors reported an overwhelming majority of 74 per cent indicating that their access to debt had remained similar to 20

22、21 levels or deteriorated further,and 63 per cent indicating that borrowing costs had increased.All these point to the return of cash-rich buyers high net worth individuals(HNWIs)and family offices for the rest of the year and into 2023.Environment,social and governance(ESG)considerations are rising

23、 on the agenda for many of the regions owners and investors as well.The pandemic has accelerated and sharpened the focus on ESG.Record levels of sustainable funds are being raised and capital partners are prioritising investments with ESG goals:in 2Q 2022,Asia Pacific recorded 792 sustainable funds,

24、an 8 per cent increase from the first quarter of the year.The industry is at a watershed moment where owners and investors are realising that if timed right,a transition to ESG principles will help preserve or enhance real estate values while doing nothing will result in brown discounts and a strand

25、ed asset in a complex future.Flush with large cash reserves and dry powder,many HNWIs are looking to expand across Asia Pacifics hospitality sector.At the end of 2021,real estate represented 11%of Asian HNWIs portfolios,with 37%of the individuals looking to increase their allocation to real estate.I

26、t is estimated that there is close to US$40 billion of private capital from Asian investors looking to be deployed into the real estate sector.The foreign cash investment homecoming Pent-up demand in investment following a two-year relative lull resulted in record levels of investor capital raised a

27、nd ready to be deployed across the region.Domestic buyers dominated the market during the pandemic,but cross-border transactions are coming back.Indeed,since the start of the pandemic in 2020,the total volume of closed-end funds targeting hotels exclusively or as part of a diversified investment str

28、ategy was 1.6 times higher than during the two years prior to the emergence of COVID-19,reaching a level of US$80.4 billion globally.Asia Pacific has also witnessed a significant increase in the volume of funds raised,with US$5.2 billion since 2020,a 72%jump from pre-COVID times.Hotel Investment Hig

29、hlights Asia Pacific|Second Half 2022|9 8|Hotel Investment Highlights Asia Pacific|Second Half 2022 The worlds busiest crosswalk in Shibuya will soon welcome back its signature crowds after Japan lifted all restrictions for foreign tourists from October 11,2022.Fashionistas are fanning out to the tr

30、endy Shibuya 109 mall while foodies are filling up ramen outlets once again.Just like how people are back in droves to the renowned shopping district,Japans transaction market has made a notable recovery in 2022.This was largely driven by GICs US$1.1 billion acquisition of the Seibu Portfolio,a land

31、mark transaction,signed in June 2022,with circa US$770 million of the portfolio transferred in September 2022.Revenue per available room(RevPAR)for key markets in Japan was up 95 per cent for the year-to-date August 2022 compared to last year.Despite the encouraging growth,Japans trading is still fa

32、r from its pre-COVID levels with some key Japan markets still 55 percentage points behind 2019 levels for the year-to-date August 2022 in terms of RevPAR.Spurred by the great reopening,demand will keep growing while supply continues to drop off.The pipeline supply of hotels has slowed for almost eve

33、ry market,with Kyoto experiencing the largest dip.Overall,this bodes well for a relatively swift recovery to the pre-COVID levels that we expect to see.Overall,transaction volumes are expected to be strong for the remainder of the year,fuelled by large sales such as the Hyatt Regency Shinjuku culmin

34、ating in US$2.5 billion for the full year.Investors remain eager to acquire hotel assets in Japan and the market is arguably a top priority for institutional players as well as HNWIs as its yield spread remains the best in the region.That healthy appetite is also showing in the number of new investm

35、ent platforms set up this year,such as SC Capitals Japan Hospitality Fund and KFS Hotel Capital.Japan at the moment is unquestionably the top choice destination for hotel investors.As Japan moves towards full reopening,its strong domestic demand,rebounding international tourism demand,coupled with t

36、he recent weakening of the yen,could translate into further pickup in transaction volume to US$2.8 billion in 2023.Japan rises like a phoenixSouth Korea vaults to new heightsAcross the Sea of Japan in South Korea,bulgogi outlets are firing up the barbecues too.Investors also have their appetites whe

37、t,seeking large hotels in Seoul for residential development and contributing to the countrys record-breaking transaction volume a whopping 85 per cent year-on-year growth.These include Millennium Hilton Seoul,Itaewon Crown Hotel and Novotel Ambassador Doksan.While domestic developers and HNWIs accou

38、nted for all hotel transactions between 2020 and 2022,foreign capital too is looking to play a more important role in the near future.But the pace of transactions is likely to slow for the rest of 2022 and 2023,as increasing development costs,decreasing home prices,and interest rate hikes make redev

39、elopment strategies increasingly less viable.Even as foreign investors continue to hold an interest in South Korea,they are waiting in the wings for further discounts.Like the luxury brands that line popular shopping boulevard Myeong-dong,the countrys spectacular showing in 2022 caught the eye of ma

40、ny observers.But we predict a subdued capital market for South Korea in 2023,which will record a much lower transaction volume of US$1.4 billion in line with the markets historic average volume.Hotel Investment Highlights Asia Pacific|Second Half 2022|11 10|Hotel Investment Highlights Asia Pacific|S

41、econd Half 2022 Last years leading Asia Pacific market began 2022 with a bang.The Bund by the Huangpu river in Shanghai,lined with a mix of Renaissance,French classical and Gothic architectural buildings,teemed with life while Beijings street food scene crackled and thronged after an unnatural two-y

42、ear silence.Mainland China registered US$856 million in hotel transactions in the first quarter,reflecting a 38 per cent increase year-on-year.However,that buoyant outlook quickly turned sour in the next quarter as major cities grappled with the pandemics resurgence,city-wide lockdowns,and tightenin

43、g domestic travel restrictions.The setback cast a shadow over general investor sentiment,with many hotel transactions being delayed or put on hold.As a result,China has recorded a 37 per cent year-on-year decline as of September 2022.JLL expects full-year transaction volumes to register below our in

44、itial estimate at US$1.5 billion.The easing of travel restrictions towards the end of the second quarter saw cities such as Sanya,Hangzhou and Shenzhen report higher RevPAR in June and July 2022 than before the pandemic,but a cautious mood remains.Annual hotel transactions in Tier 1 cities account f

45、or more than 70 per cent of total investments in the country since the pandemic a clear indication that investors are more confident in the outlook and market resilience of these gateway cities.In addition,Chinas“Three Red Lines”deleveraging policy is driving domestic property developers to divest t

46、heir hotel assets to balance the books.One such move was the strategic divestment of the Hyatt on the Bund for US$720 million,and more transactions of this nature are expected to take place in the next six to 12 months.Indeed,China is among the top 3 destinations where owners are looking to divest t

47、heir hotel assets,and where the majority of buyers are seeking discounts of up to 20 per cent according to JLLs latest Investor Sentiment Survey.This will likely exert more downward pressure on asset pricing,revealing signs of market distress.That distressed activity could lead to more transactional

48、 activity as China looks to surmount the Great Wall in 2023 JLL is forecasting volumes to reach US$2.0 billion.China bides its timeDown under in Australia,Surfers Paradise is living up to its name once more as thrill seekers ride the waves that have been devoid of action.Classic holiday destinations

49、 like Gold Coast and Cairns are leading Australias strong trading recovery,fuelled by strong domestic leisure demand.Capital city markets have also exceeded expectations this year and are recording exceptional average daily rate premiums compared to the same period in 2019.Investor demand for Austra

50、lias gateway remains strong,led by the blockbuster transaction of the Hilton Sydney selling for US$361 million in the countrys largest ever single asset hotel sale.The signs are promising.JLL predicts that full-year volumes could reach US$1.4 billion,if certain deals transact.Private equity buyers r

51、emain a dominant capital source in the market,as they look to deploy significant dry powder across a range of deals from upscale hotels to smaller metropolitan and regional assets.This comes as repositioning or redevelopment of older assets,particularly in Melbourne and Sydney,becomes a recurring th

52、eme.Recent transactions include Hotel Lindrum and the Sir Stamford Circular Quay,with both hotels being acquired for their value-add potential and set to be redeveloped into alternative uses.As Australia sees an uptick in investor appetite,transaction volumes in 2023 are likely to hover around the l

53、ong-term average of approximately US$1.5 billion.Australia surfs towards the crestHotel Investment Highlights Asia Pacific|Second Half 2022|13 12|Hotel Investment Highlights Asia Pacific|Second Half 2022 In Maldives,the hotel investment markets resilience from 2021 has carried over to 2022.The incre

54、ase in investor interest from Asia,the Middle East and Europe is as clear as the crystal waters surrounding the resorts.JLL is forecasting higher investment volumes this year on the back of marquee sales such as the W Maldives and Sheraton Full Moon Resort,with more currently underway to potentially

55、 increase the total transaction volume to just over US$210 million for 2022 and US$350 million by 2023.Since Maldives reopened its borders in July 2020,the number of international tourists has significantly rebounded and diversified,arriving mainly from Europe and the Middle East as most of the coun

56、tries in Asia remained closed until very recently.Indeed,it has taken Maldives just two years to almost reach pre-pandemic levels of inbound tourists.Even without Chinese tourists,the top source market in 2019,Maldives has registered continued growth in RevPAR,and has been exceeding 2019 levels sinc

57、e January 2022.Singapore,Thailand and Maldives speed up recoveryLong-time vacation spots in Southeast Asia and Maldives are reaping the benefits of relaxed travel restrictions.In Singapore,the glitzy infinity pool at the Marina Bay Sands is once again filled thanks to its effective management of the

58、 pandemic.The return of the Singapore Grand Prix in October 2022,one of Formula 1s most anticipated races,saw record attendance over a rain-drenched weekend and packed the city and its hotels,which enabled Singapore Citywide RevPAR to accelerate in growth by 108 per cent as at year-to-date August 20

59、22.Compared to a quieter 2021,Singapores transaction volumes rebounded rapidly with year-to-date sales of US$923 million exceeding pre-pandemic levels,and could rise up to US$950 million by end-2022.We expect Singapore to have a similarly active 2023 as investors continue to be lured into the market

60、 for its safe-haven status while sellers look to capitalise on improving market conditions.Elsewhere,Thailands Chatuchak Market is racking up sales of its delectable street food offerings after dropping all restrictions in September this year.However,the resurgence of investment demand in Thailand r

61、emains in recovery mode amid a 19 per cent decrease from last year with US$90 million worth of investment changing hands in the first nine months.With several sales in the final stages of transacting,including Oakwood Studios Sukhumvit Bangkok which changed hands to Worldwide Hotels mid-October,JLL

62、predicts overall sales pace to pick up during the final quarter of the year and the full-year volume to register around US$300 million.Thailands key tourism markets of Bangkok,Phuket,Samui and Chiang Mai will continue to see the bulk of investor demand and we forecast similar levels of transactional

63、 activity at US$350 million in 2023 in line with the markets long-term average.Hotel Investment Highlights Asia Pacific|Second Half 2022|15 14|Hotel Investment Highlights Asia Pacific|Second Half 2022 In Indonesia,the lifting of travel restrictions for both international and domestic tourists is exp

64、ected to boost tourism demand in the country.Green shoots of recovery are emerging for the hotel sector,with occupancy levels expected to reach 50 per cent to 60 per cent this year.Bali in particular should drive Indonesias recovery,as foreign investors are strongly interested to expand their footpr

65、int on the mythic Island of the Gods,amid challenging currency and ownership restrictions.The past two years were relatively quiet in Vietnam,reflecting lower appetite from investors as hotel performance remained sluggish.As Vietnam reopened its borders to international tourism earlier this year,the

66、 country is slowly emerging from the slumber caused by the pandemic.Transaction volumes have more than doubled from last year to reach US$95 million as at year-to-date September 2022.Private equity funds,HNWIs and corporates are actively looking to invest,particularly in resort destinations where mo

67、re value-add opportunities remain.Awakening Indonesia and VietnamFor Hong Kong,the neon signs of Central may start to see signs of life return,as the city ended mandatory hotel quarantine and the pre-departure polymerase chain reaction test in September 2022.Outbound tourism could also see a boost a

68、s destinations like Osaka received a 7,300 per cent jump in bookings following the easing of some travel restrictions.But there are several caveats.Inbound travellers will still have to self-monitor for three days after arrival and cannot enter bars or restaurants during that period,while social dis

69、tancing and mask-wearing remain in place.These restrictions and the notable absence of Mainland Chinese will limit the financial centres near-term recovery and underline a subdued trading environment.This years completed transactions are primarily independent or franchised hotels with smaller rooms

70、that are more suitable for alternative use conversion.As owners have enough capital and are cautiously optimistic about recovery,distressed or opportunistic acquisitions are likely to be sparse.That said,overall investor appetite for Hong Kong hospitality assets is likely to remain sluggish until le

71、isure tourists can move around more freely in the city and China turns the taps back on for inbound demand into the Special Administrative Region.Hong Kong takes it slow16|Hotel Investment Highlights Asia Pacific|Second Half 2022 Hotel Investment Highlights Asia Pacific|Second Half 2022|17 Two years

72、 of isolation have given way to the cross-border travel we all remember and love.This encouraging progress was equally welcomed by the hotel investment market,which is gearing up for a strong end to the year amid high tourism demand.Nevertheless,the road ahead will be choppy,with macro and geopoliti

73、cal headwinds that will continue to influence capital activity.However,the hotel industrys ability to quickly adapt to agile pricing and rate changes makes hotels a good investment to navigate this inflationary climate.Certain markets will likewise benefit from a weaker local currency which will imp

74、rove the purchasing power of tourists and investors flush with dollar-denominated funds.A rising interest rate environment may also spur traditionally headstrong long-term owners to rethink and rebalance their portfolios,injecting more liquidity through structured sale processes,particularly in mark

75、ets like Australia,Singapore and Japan.With these in mind,we expect measured growth of 6 per cent in transaction volume to US$11.5 billion in 2023,with Japan leading the pack as the most active market across the Asia Pacific region once again.Back to the futureJLL investment volume forecast for 2023

76、Investment volume expected to reach USD11.5 billion in 2023 in Asia PacificNew ZealandUS$200MSingaporeUS$1.3BMaldivesUS$350MAustraliaUS$1.5BThailandUS$350MIndonesiaUS$300MVietnamUS$150MSouth KoreaUS$1.4BHong KongUS$1.0BJapanUS$2.8BChinaUS$2.0BMalaysiaUS$150MHotel Investment Highlights Asia Pacific|S

77、econd Half 2022|19 18|Hotel Investment Highlights Asia Pacific|Second Half 2022 JLLs H2 2022 APAC Hotel Investor Sentiment Survey Key FindingsWe are pleased to share summary results from JLLs survey of 120 owners and investors across Asia Pacific who were polled in August/September 2022 on their inv

78、estment strategy for the next 12 months.73%of investorsare either very interested(38%)or interested(36%)in buying hotels in the next 12 monthsvs.62%last yearBuyers are most interested in Japan(26%),Australia and New Zealand(13%)and Thailand(12%)53%of investors with rising cost of debtreport debt cos

79、t has increased by up to 100 bps compared to 202164%of respondents report that development costs have increased by more than 10%51%of investors believe their access to debt remains unchanged compared to 202130%of ownersare not sellers in the market vs.46%last year52%of investorsexpect cap rates to i

80、ncrease by up to 100bpsInvestors are more willing to take a deeper discount on a non-ESG compliant hotel than to pay a significant premiumBuyers are seeking a discount of -3%a premium of 3%for Sellers vs.65%of investors see best investment opportunities in traditional hotelsHotel Investment Highligh

81、ts Asia Pacific|Second Half 2022|21 20|Hotel Investment Highlights Asia Pacific|Second Half 2022 Properties sold by JLLStamford Plaza Auckland*Auckland,New ZealandDunk IslandQueensland,Australia OneFive OsakaOsaka,Japan2ND by Androoms Sapporo and Nagoya,JapanSheraton Full Moon ResortNorth Mal Atoll,

82、MaldivesW Maldives North Ari Atoll,MaldivesHilton SydneySydney,Australia Sir Stamford Circular QuaySydney,Australia Seibu Portfolio*Various,JapanOakwood Studios Sukhumvit Bangkok*Bangkok,ThailandSix Senses FijiMalolo Island,Fiji*Buyside advisor *Contracts exchangedHotel Investment Highlights Asia Pa

83、cific|Second Half 2022|23 22|Hotel Investment Highlights Asia Pacific|Second Half 2022 Large-scale serviced apartment hotel in central CBD location Melbourne,AustraliaPeter HarperPeter.H+61 412 560 246Properties for SaleSheraton GuilinGuilin,Mainland ChinaJunya WeiJunya.W+86 188 1791 7895Luxury and

84、Upper upscale Hotel Portfolio Various including Beijing,Shanghai and Sanya,Mainland ChinaJunya WeiJunya.W+86 188 1791 7895Hakone Gora CollectionHakone,JapanCharlie MacIldowie Charlie.MacI+81 80 4816 2441SH by the square hotel Kyoto KiyamachiKyoto,JapanCharlie MacIldowie Charlie.MacI+81 80 4816 2441R

85、ed Planet Sapporo Susukino South Sapporo,JapanCharlie MacIldowie Charlie.MacI+81 80 4816 2441Upscale Resort Bali,IndonesiaJulien Naouri Julien.N+65 9177 3765Upscale Serviced Apartment Kuala Lumpur,MalaysiaJulien Naouri Julien.N+65 9177 3765Amari Havodda Maldives Gaafu Dhaalu Atoll,MaldivesJulien Nao

86、uri Julien.N+65 9177 3765Upscale Lifestyle ResortRaa Atoll,Maldives Nihat Ercan Nihat.E+65 8322 8348Fairfield by Marriott BusanBusan,South KoreaMinJoon Kim Minjoon.K+82 010 2588 3521Upscale Beachfront Resort Koh Samui,ThailandPaul ChakrabandhuChakkrit.C+66 89 815 2272Upper Midscale HotelPattaya,Thai

87、landPimpanga YomchindaPimpanga.Y+66 94 449 7829Serviced Apartment Sri Racha,ThailandPaul ChakrabandhuChakkrit.C+66 89 815 2272Luxury Beachfront Resort Cat Ba Island Ha Long Bay,VietnamQuytuan NguyenQuytuan.N+84 96 538 9988Upper Upscale Serviced ApartmentHo Chi Minh City,VietnamQuytuan NguyenQuytuan.

88、N+84 96 538 9988Upscale Boutique Resort Hoi An River,Quang Nam,VietnamQuytuan NguyenQuytuan.N+84 96 538 9988Hilton SeychellesMah,SeychellesNihat Ercan Nihat.E+65 8322 8348Hotel Investment Highlights Asia Pacific|Second Half 2022|25 24|Hotel Investment Highlights Asia Pacific|Second Half 2022 PerthMe

89、lbourneSydneyBrisbaneAucklandHong KongSeoulBeijingShanghaiTokyo SingaporeBangkokHo Chi Minh CityMumbaiNew Delhi Wuhan#1 Hotels advisor in Asia Pacific since 2011*Helping you across Asia Pacific.Located in16citiesOver110hospitality expertsTransacted overUS$22Bfrom 2011-2021Over50.6%of all brokeredhot

90、el transactions from 2011-2021*JLL been ranked the#1 hotels advisor in Asia Pacific for the past 11 years by Real Capital Analytics-MSCI.Creating a world of opportunity for investors and owners of hospitality real estate.As trusted full-cycle advisors,were invested in your success.As the markets unm

91、atched knowledge and execution platform,were invested in achieving your hotels goals.As we live in your world,were also invested in the idea that Asia Pacific presents the most exciting and rapidly evolving hotels market place for investors and owners globally.We are here for the long haul to help y

92、ou to navigate todays complex and changing market,and access opportunity.At JLL,we unlock opportunities as your invested partner and the unrivalled provider regionally and globally.Diversify portfolioAccess new marketsSource capitalPartner with operatorsManage riskInsight into new opportunities and

93、trendsJLL invested in your success.Hotel Investment Highlights Asia Pacific|Second Half 2022|27 26|Hotel Investment Highlights Asia Pacific|Second Half 2022 2022 Jones Lang LaSalle IP,Inc.All rights reserved.The information contained in this document is proprietary to JLL and shall be used solely fo

94、r the purposes of evaluating this proposal.All such documentation and information remains the property of JLL and shall be kept confidential.Reproduction of any part of this document is authorized only to the extent necessary for its evaluation.It is not to be shown to any third party without the pr

95、ior written authorization of JLL.All information contained herein is from sources deemed reliable;however,no representation or warranty is made as to the accuracy thereof.Asia PacificMike Batchelor CEO Mike.B Nihat Ercan Senior Managing DirectorHead of Investment Sales Nihat.E Xander Nijnens Managin

96、g DirectorHead of Advisory&Asset Management Xander.NGet in touchAustraliaPeter Harper Peter.HAdam Bury Adam.BAndrew Langsford Andrew.LGreater ChinaTao Zhou Tao.ZJonathan Law Jonathan.LJunya Wei Junya.WJapanTakahiro Tsujikawa Takahiro.T Naoki Kogure Naoki.KCharlie MacIldowie Charlie.MacINew ZealandNi

97、ck Thompson Nick.TSingaporeCalvin Li Calvin.LJulien Naouri Julien.NLingwei Tan Lingwei.TAlan Christie Alan.CSashi Rajan Sashi.RCleavon Tan Cleavon.TSouth KoreaMinjoon Kim Minjoon.KThailandPaul Chakrabandhu Chakkrit.CPawin Lertpanyaroj Pawin.L Pimpanga Yomchinda Pimpanga.YVietnamTuan Nguyen Quytuan.N