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SINGAPORE, MARCH 11, 2024 - JLL (NYSE: JLL) has regained its ranking as the leading hotel investment advisory firm globally for 2023, as based on total investment volumes in the asset class. Data analysed and published by MSCI Real Capital Analytics (RCA) has confirmed that JLL advised on $7.7 billion in transactions, representing a global market share of 25% of all hotel investment deals. JLL rises to the top spot on the independent rankings from second in 2022, underlining the momentum in its business strategy and the confidence its investment advisory platform by the world’s most active hotel investors and operators.
The contribution to JLL’s number one ranking globally was further reflective of the strength of its diversified business of locally-focused and globally-connected investment advisors across the Americas, EMEA and APAC. In the Americas, the largest hotel investment geography globally, JLL advised on approximately $3.0 billion in deals, capturing a market share of 19% for 2023. In EMEA, the firm closed $2.7 billion in transactions or 30% of the market. In APAC, JLL’s 34% market share equated to $2.0 billion in hotel investment transactions.
“JLL has an established record and reputation as the world’s leading source of investment advisory and expertise in the global hotel industry. Against a challenging and unpredictable macroeconomic backdrop, our hotels business has continued to thrive due to the depth of collaboration, partnership and trust that are a hallmark of our global client relationships. We take pride in this recognition and share this recognition with our clients and our international network of hotels professionals,” says Nihat Ercan, CEO, JLL Hotels & Hospitality Group, Asia Pacific.
In 2023, JLL advised on numerous landmark transactions across the Americas, EMEA and APAC regions. Notable deals transacted by JLL included closing the sale of the Diplomat Beach Resort in Fort Lauderdale Florida, for $835 million, the third largest single asset transaction ever in the U.S.; advising Equity Inmuebles on the EU535 million sale of 17 assets in Spain, the country’s largest ever portfolio transaction; and the advising on sale of the Singapore’s PARKROYAL on Kitchener Road for $388 million, representing the largest ever single hotel asset transaction in Singapore.
“Economic confidence, consumption and tourism have accelerated and Asia Pacific’s hotel industry is a clear long-term beneficiary. We confidently hold the view that global capital will increasingly approach the hotel asset class in Asia Pacific as an opportunistic investment with long-term potential given changing demographics and maturing international connectivity. With prevailing factors including a moderating interest rate environment and continual recovery in business and leisure travel, we expect an increase of year-on-year investment volumes of over $10.4 billion for 2024,” says Ercan.
Read more in JLL’s Hotel Investment Outlook 2024.