{"id":1004039876,"date":"2012-03-23T06:16:22","date_gmt":"2012-03-23T14:16:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004037741"},"modified":"2022-12-08T07:20:47","modified_gmt":"2022-12-08T15:20:47","slug":"jll-select-service-hotels-to-double-investment-volume-in-12","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jll-select-service-hotels-to-double-investment-volume-in-12\/","title":{"rendered":"JLL: Select-Service Hotels to Double Investment Volume in '12"},"content":{"rendered":"

By Nicholas Ziegler, News Editor<\/strong>
\n

\"\"<\/a>

Image courtesy Flickr user Tony Fischer Photography<\/p><\/div><\/p>\n

The hospitality sector has certainly been top of mind recently. In just the last few weeks, some of the major services firms have each released reports on the state of hotels. Earlier this month, CBRE Group Inc. predicted that 2012 will bring solid performance<\/a> and rising investment-sales volume for the Manhattan market, despite economic uncertainty. \u00a0And just last week, Marcus & Millichap Real Estate Investment Services Inc. noted that investors \u201ccan buy at aggressive yields today but realize very strong returns in just a few years\u201d \u2013 and the company\u2019s analysts were talking about the entire country, not just the Manhattan market.<\/p>\n

And now it\u2019s time for Jones Lang LaSalle Inc. to weigh in — and the report looks to be a similar one. JLL sees a continued flow of capital into the hospitality sector during 2012, but specifically sees increased investor interest in the select-service arena. Sales of those portfolios are expected to double their 2011 levels this year.<\/p>\n

\u201cThe select-service sector is the most agile and resilient of the hotel transaction market,\u201d Al Calhoun, managing director of Jones Lang LaSalle Hotels, said. \u201cIts demand has quadrupled in the last 15 years, giving way to growth in the product offering. An increase in corporate demand at branded upscale select-service hotels is expected to bolster the performance for the overall sector in 2012.\u201d<\/p>\n

Private equity and institutional investors will continue to play a significant role in the acquisition of select service assets. Investors are looking to expand their portfolios at a national and regional level, and branded portfolio sales are likely to fare better in the market in 2012. Turn-around hospitality assets in the today\u2019s marketplace are also likely to face a wide buyer audience. However, buyers should remain cautious, as franchisors are expected to require overdue upgrades and capital infusions in the coming year to keep hotels at brand standards.<\/p>\n

\u201cCompetitive bidding on auction sales and the purchasing of foreclosures and distressed assets, albeit at a slower pace, will also allow investors to acquire assets at a discount to replacement cost,\u201d added Calhoun.<\/p>\n","protected":false},"excerpt":{"rendered":"

Jones Lang LaSalle sees a continued flow of capital into the hospitality sector during 2012, but specifically sees increased investor interest in the select-service arena. Sales of those portfolios are expected to double their 2011 levels this year.<\/p>\n","protected":false},"author":1201,"featured_media":1004037171,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21751,21742],"tags":[],"class_list":["post-1004039876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-hotel","category-latest"],"acf":[],"yoast_head":"\nJLL: Select-Service Hotels to Double Investment Volume in '12 - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jll-select-service-hotels-to-double-investment-volume-in-12\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JLL: Select-Service Hotels to Double Investment Volume in '12\" \/>\n<meta property=\"og:description\" content=\"Jones Lang LaSalle sees a continued flow of capital into the hospitality sector during 2012, but specifically sees increased investor interest in the select-service arena. 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