>In Asia Pacific, Downturn Looks More Like A Speed Bump

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>ASIA PACIFIC — The Asia Pacific hotel market has felt the impact of the downturn, but thanks to massive emerging economies that refuse to be stopped and localized financing practices that have kept pipelines healthy, the East continues to be where the action is. The region is at the head of the global recovery, with Jones Lang LaSalle Hotels reporting evidence of markets hitting bottom late last year. Promisingly, the financial sector is showing signs of increased demand, particularly in the economic hubs of Hong Kong and Singapore, JLLH says, and net absorption rose 20% across the region in the fourth quarter, although it will likely remain below pre-recession levels through 2010.

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