CBRE Hotels has released its latest analysis of hotel investment sales and room rates in Asia for the third quarter, with Singapore emerging as one of the most active hotel investment markets for 2011, at 27 percent of the total investment volume.
“Although investment sales in Asia were impacted slightly due to the events in Japan in the first quarter, investment levels have risen sharply elsewhere, particularly in China and Singapore,” said Robert McIntosh, Executive Director (Asia Pacific) at CBRE Hotels.
Hotel transactions volumes hit US$3.9 billion year-to-date in Asia, up 50 percent from September 2010. China, Singapore, Japan, Hong Kong, Thailand and Taiwan accounted for US$1.4 billion, US$1.0 billion, US$443 million, US$329 million, US$139 million and US$138 million respectively.
Raffles Hotel, Crown Plaza, Changi Airport, Studio M and Ibis Novena are some of the top grossing hotels in Singapore.
The four markets with the most notable occupancy increases are Bangkok, Jakarta, Beijing, and Kuala Lumpur.
On the back of a vibrant economy in Singapore and the projected rise in visitor arrivals, CBRE Hotels expects islandwide occupancy levels to reach between 83 percent and 86 percent.
“The sector has continued to improve as a result of the stronger regional economy and the increased attractions of Singapore for both business and leisure visitors. This improved occupancy has been achieved despite a greater than 10 percent increase in the number of hotel rooms,” said McIntosh.
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