Asia Pacific hotel investment volumes in the first half of 2017 exceeded US$2.9 billion, according to JLL Hotels and Hospitality, which said it counted 28 hotel deals across six countries.

Hong Kong and Australia were the standout markets in the region in terms of inbound investment, amounting to just under US$1.5 billion altogether, "driven by robust tourism growth and solid trading performance driving investment activity in Australia,” said Frank Sorgiovanni, head of Research, Asia Pacific at JLL.

 

Australia was a favourite for Asia-based hotel investors, with a number of key transactions in Sydney and Melbourne. The majority of deals took place in Melbourne, while the InterContinental Sydney Double Bay sold for US$104 million, the highest value recorded for a suburban hotel in Sydney.