The momentum of hotel investment in Thailand is likely to continue, supported by new buying opportunities, especially in tourist destinations, according to the property service consultant John Lang LaSalle.
Activity in Thailand is projected to increase as some counter-cyclical buying opportunities emerge, said Mike Batchelor, managing director for Asia's investment sales of Jones Lang LaSalle Hotels.
The political environment is more stable and trading is expected to rebound over the next 12 to 18 months, notwithstanding the impact of the recent flooding disaster in Bangkok.
Similar to Hong Kong and Singapore, some offshore and long-term Thai owners are looking to exit to redeploy elsewhere capital offshore.
Earlier in January, two Courtyard by Marriott hotel properties with a combined value of 3.8 billion baht in Phuket's Patong and Phetchaburi's Cha-am were up for sale.
In the past two years, JLL Hotels have successfully completed several high-profile transactions in Thailand including the Laguna Beach Resort Phuket, Dusit Thani Laguna Phuket, Baan Taling Ngam Samui and the Sofitel Silom Bangkok.
Mr Batchelor said so far the dislocation in the financial markets has not impacted underlying trading fundamentals in Thailand. This has reassured investors to a certain degree and underscored the attractiveness of high-quality, income-producing hotel real estate as an asset class.
"We expect single asset sales across the gateway markets of Bangkok, Phuket, Pattaya to be the main centres of activity following a similar pattern in 2011," he said.
On the global trend, JLL Hotels forecasts that the global hotel transaction volume will hold steady in 2012, with value exceeding US$31 billion, despite the continuing economic uncertainty.
The sentiment is especially bullish in the Asia-Pacific, where the hotel transaction volume is projected to reach $5 billion this year, similar to last year. Of this, Asia is projected to reach $3.5 billion as long-term owners continue to make strategic dispositions in Southeast Asia and bank-motivated sales gain traction in Japan.
No comments:
Post a Comment