Hotel sales and acquisitions in the Americas will jump as much as 25 percent this year, buoyed by real estate investment trusts and foreign investors seeking to deploy cash, according to Jones Lang LaSalle Hotels.
Transactions may total $13 billion this year, the London- based company said in a statement today. Volume was about $10.5 billion in 2010, almost five times the previous year’s levels, according to Jones Lang.
“Due to additional capital raises, REITs are expected to continue to be dominant buyers in 2011, and private equity groups and institutional investors will increasingly join the mix as leverage levels and terms improve,” Arthur Adler, managing director and Americas chief executive officer at Jones Lang LaSalle Hotels, said in the statement. The U.S. will be one of the most active markets for deals globally, the company said.