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Asia Pacific Hotel Investment Highlights H2 2014

Hotels & Hospitality Group | March 2015

Sold: Konotta Island Resort, Maldives. Newly developed luxury resort in one of the world’s most pristine island destinations, featuring 27 beachfront villas and 21 over-water villas.

4 Hotel Investment Highlights | March 2015

Contents06 Subdued end to 2014 in Asia, new record reached in Australia

08 Australia & Japan dominate investment activity

12 China becoming a major player in hotel real estate globally

12 Sovereign wealth funds have been quiet

15 Asia Pacific hotel trading performance 2014

16 Properties for Sale – Australasia

18 Properties for Sale – Asia

22 Contributors

On the cover – For Sale: The Westin Sydney & Heritage Retail. The iconic five-star hotel, located at the prestigious address of 1 Martin Place, features 416 rooms & suites, extensive conferencing facilities and is complemented by a large retail component.

For Sale: The Westin Sydney & Heritage Retail, Sydney. One of Australia’s premium luxury hotels.

March 2015 | Hotel Investment Highlights 5

Highlights

Australian transaction volumes up

Cross-border investors dominated capital flow, accounting for

2/3 of all deals

$3.7 billion transacted in H2 2014

146 deals across Asia Pacific

in 2014

86%


Subdued end to 2014 in Asia, new record reached in AustraliaAsia Pacific’s hotel investment market recorded an impressive $9.2 billion worth of transactions back in 2013, led by the resurgence of Japan and big-ticket trophy deals in Singapore and Shanghai.

However, 2014 witnessed a moderation in sales activity across the region, falling by 18% to just above $7.5 billion with over 34,000 keys traded at an average rate of $221,000 per key. This was largely the result of reduced sales volume in Asia, falling by $2.8 billion from 2013.

In stark contrast to Asia, 2014 proved to be an extraordinary year for Australia. Transactions volumes reached a record $2.2 billion (up 86% y-o-y). Activity in Asia was dominated by Japan ($2.3 billion), Mainland China ($1.4 billion), Thailand ($338 million) and Malaysia ($292 million).

This overall decline in investment activity in Asia partly reflected a geographic shift of investment focus to recovering and emerging markets (such as the Americas and Western Europe) by Asian capital, rather than a diminishing interest in local hospitality assets.

The lack of investment opportunities in Asia compared to 2013 was also a key factor in reduced volumes last year. Total transaction volume in Asia Pacific totalled $3.7 billion in H2 2014, a 34% decline on the same period in 2013.

Sold: Beachfront Development Site, Phuket, Thailand. Land along Phuket’s world-famous west coast.

Whilst total investment volume was down, cross-border capital for hotel assets recorded in 2014 reached $4.8 billion, outpacing the $3.9 billion of inter-market investment over 2013.

Australia once again remained firmly on the radar of Mainland Chinese investors. However the growing interest in the USA and Europe was also evident with a flood of outbound capital chasing assets in several international gateway cities including New York, London and Paris.

Across Asia Pacific, the average price per key in 2014 was down 26% (y-o-y) despite Australasia alone increasing to $292,000 (up 24%). Asia registered $201,000 per key (down 35% y-o-y and reflective of the lack of large-scale transactions compared to previous years). This was the lowest rate per key in over 10 years.

The record sale of the Sheraton on the Park in Sydney to new Chinese heavyweight investor Sunshine Insurance Group is indicative of the high-profile acquisitions now occurring. Selling for $398 million, the transaction was a new record for a single-asset hotel sale in Australasia.

During H2 2014, Asia Pacific investment activity was dominated by Australia ($1.6 billion) and Japan ($1.2 billion). Arm’s length transactions in Mainland China amounted to just $250 million, further highlighting that Chinese investors prefer to purchase abroad on stronger trading fundamentals.


Asia Australasia

Tran

sacti

on V

olume

(USD

Milli

on)

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

Q1 20

07

Q2 20

07

Q3 20

07

Q4 20

07

Q1 20

08

Q2 20

08

Q3 20

08

Q4 20

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Q1 20

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Q2 20

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Q3 20

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Q1 20

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Q2 20

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11

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13

Q2 20

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Q3 20

13

Q4 20

13

Q1 20

14

Q2 20

14

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Q4 20

14

Source: JLL

Asia Pacific Quarterly Transaction Volume Q1 2007 to Q4 2014

Australasia Asia

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

2000

2001

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2003

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2007

2008

2009

2010

2011

2012

2013

2014

Price

per K

ey (U

SD)

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Milli

ons)

Price per Key Asia Price per Key Australasia

Source: JLL

Asia Pacific Pricing Metrics 2000 to 2014

0%

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2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

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Cross Border Domestic

Source: JLL

Asia Pacific Source of Capital 2000 to 2014

Cross border investors dominated capital flow, accounting for two-thirds of all deals above $5 million. With 146 deals (both single-asset and portfolio transactions) registered in 2014 (94 in Asia), offshore investors have dominated large assets sales with a high average deal size of $55 million. The most active market by number of properties sold was Japan with over 100 hotels trading, many as part of a portfolio deal.

Total transaction volume in Asia Pacific totalled $3.7 billion in H2 2014, a 34% decline on the same period in 2013


rooms278

rooms rooms rooms roomsroomsrooms roomsrooms rooms703

Sapporo, Japan Sapporo, JapanTokyo, Japan Sydney, Australia Sydney, AustraliaNoosa Heads, AustraliaSydney, Australia Krabi, Thailand Gold Coast, AustraliaTokyo, Japan

Midscale

$239,606Price per Key (USD)



Sale Price (USD Millions)

Property Type

Upscale

Property Type

Under Construction

Midscale

Property Type

Midscale

Property Type

Upscale

Property Type

Resort

Property Type

Upscale

Property Type

Midscale

Property Type

Best Western Hotel Sapporo Nakajima

Koen

Tokyo Bay Maihama Hotel

Club ResortSofitel Sydney ICC Novotel Sydney

Brighton BeachSofitel Gold Coast

BroadbeachBest Western

Shinjuku AstinaSheraton

on the ParkOutrigger Phi Phi

Village Beach Resort & Spa

Sheraton Noosa Resort & Spa Art Hotels Sapporo

$66.6Sale Price (USD Millions)


$318.7$281,301

Price per Key (USD)


$83.3$221,622

Price per Key (USD)


$65.6$361,165

Price per Key (USD)


$74.4$714,865

Price per Key (USD)


$398.2$540,104

Price per Key (USD)


$84.3$514,125

Price per Key (USD)


$90.5$161,165

Price per Key (USD)


$66.4

557 176 156 296 206 412 296594

Jul-14Jul-14 Aug-14 Oct-14 Oct-14Oct-14Nov-14 Nov-14Dec-14 Dec-14

Upscale

Property Type

Upscale

Property Type

Australia & Japan dominate investment activityThe top 10 single-asset transactions over the second half of 2014 collectively amounted to $1.6 billion. Australia’s presence in the list of large-scale deals has increased two-fold along with Japan which enjoyed another record year.

Source: JLL

Asia Pacific Top 10 Single Asset Transactions H2 2014

Buyer activity in Singapore decelerated significantly in the wake of record values per key recorded in 2013 including The Westin and Grand Park Orchard. Hotel Grand Chancellor, trading for $198 million or $606,000 a key, was the sole 2014 transaction registered (the sale was consequently closed in January 2015). In Singapore, expectations of rising interest rates and a low-yield environment could deter investors from transacting this year unless the current pricing disconnect between buyer and seller narrows.


rooms278

rooms rooms rooms roomsroomsrooms roomsrooms rooms703

Sapporo, Japan Sapporo, JapanTokyo, Japan Sydney, Australia Sydney, AustraliaNoosa Heads, AustraliaSydney, Australia Krabi, Thailand Gold Coast, AustraliaTokyo, Japan

Midscale





Property Type

Upscale

Property Type

Under Construction

Midscale

Property Type

Midscale

Property Type

Upscale

Property Type

Resort

Property Type

Upscale

Property Type

Midscale

Property Type

Best Western Hotel Sapporo Nakajima

Koen

Tokyo Bay Maihama Hotel

Club ResortSofitel Sydney ICC Novotel Sydney

Brighton BeachSofitel Gold Coast

BroadbeachBest Western

Shinjuku AstinaSheraton

on the ParkOutrigger Phi Phi

Village Beach Resort & Spa

Sheraton Noosa Resort & Spa Art Hotels Sapporo



$318.7$281,301

Price per Key (USD)


$83.3$221,622

Price per Key (USD)


$65.6$361,165

Price per Key (USD)


$74.4$714,865

Price per Key (USD)


$398.2$540,104

Price per Key (USD)


$84.3$514,125

Price per Key (USD)


$90.5$161,165

Price per Key (USD)


$66.4

557 176 156 296 206 412 296594

Jul-14Jul-14 Aug-14 Oct-14 Oct-14Oct-14Nov-14 Nov-14Dec-14 Dec-14

Upscale

Property Type

Upscale

Property Type

Japan had another year firmly in the spotlight. Tokyo, Osaka and Sapporo have been attracting an increasing number of offshore buyers and significant interest from local investors. To date, the volume of cross-border deals is still low as the established local presence has the edge in completing sales with superior relationships (local brokers, vendors and financiers) and market intelligence.

The largest transaction in Japan was the sale of the Tokyo Bay Maihama Hotel Club Resort for $343 million. The 12-story hotel offers around 700 rooms and is one of Tokyo Disney Resort’s six official hotels.

Following the successful bid for the 2020 Tokyo Olympic Games, foreign interest has been strong in Japan given optimism over the increased development opportunities surrounding the Games and the weakening Yen. Unlike Mainland China and several markets throughout Asia, Japan is clearly undersupplied in hotel rooms. Four years after Fukushima, tourism is bouncing back, shattering expectations on visitor numbers.

Sold: Sheraton on the Park, Sydney. One of Australia’s finest, multi-award winning, five-star hotels.



Japan logged a record 13.4 million international visitors in 2014, double the number of 2011 and more than half of the 20 million the government hopes to attract in 2020 when Tokyo hosts the Summer Olympics. This is a key reason for the stronger investment impetus.

Investment into Mainland Chinese hotels was limited by quality offerings and a challenging operating environment. Shanghai was the preferred destination for capital. Despite another delay, the opening of Shanghai Disney Resort will be a defining moment for Shanghai’s tourism industry. JLL expects hotel performance in Shanghai to improve in 2016, in particular by the potential increased length of stay and attraction of new tourism segments.

Australia was a key target market of Chinese capital with investors firmly focused on Sydney. The gateway city accounted for the majority of transaction volume, rising from a total of $350 million in H2 2013 to $982 million in H2 2014.

The record sale of the Sheraton on the Park in Sydney transacted by JLL is indicative of the high-profile acquisitions worldwide that made headlines last year. The purchaser also recently acquired Manhattan’s Baccarat Hotel from Starwood Capital Group LLC for $230 million, equivalent to more than $2 million per room. In October 2014, China’s Anbang Insurance Group Co purchased the Waldorf Astoria Hotel in New York for $1.95 billion.

Australia is likely to continue to be a target market due to its growing Chinese population and tourism and a weakening Dollar versus the Chinese Renminbi. The relatively higher cap rate when compared to other gateway cities in Asia, USA and Europe is also appealing. Since the Chinese government announced its Go Global policy in 2012, encouraging Chinese companies to invest overseas, there’s been a rush into hotel investment.

Outside of the key gateways, Chinese investors are examining destinations with potential to attract increasing tourism. A slowing Chinese economy has pushed developers and investors offshore into new tourism markets. Beijing’s Fu Wah International Group has won the right to build a new 200-room Wynyard Quarter hotel on the old Team New Zealand America’s Cup base.

Driven by stable economic performance and relatively high yielding assets, many investors over the past two years have been attracted to opportunities in Australia. While Sydney and Melbourne saw the first flurry of investment in 2013, diminishing stock in these markets is forcing investors to look further afield and closed deals saw greater foreign activity in Brisbane and Perth in 2014.

Sydney (12 deals) $981.5 million

Tokyo (5 deals) $617.8 million

Shanghai (1 deal) $189.1 million

Sapporo (3 deals) $188.1 million

Melbourne (4 deals) $162.4 million

Krabi (1 deal) $84.3 million

Bangkok (3 deals) $67.4 million

Surfers Paradise (1 deal) $65.6 million

Townsville (1 deal) $60.9 million

Hong Kong (1 deal) $51.3 million

Asia Pacific Most Active Cities H2 2014

Source: JLL

0

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Other Singapore New Zealand India Hong Kong

Maldives Malaysia Thailand Mainland China Australia Japan

Source: JLL

Asia Pacific Most Active Markets H2 2014

Sydney accounted for the majority of transaction volume, recording $982 million in H2 2014


China becoming a major player in hotel real estate globallyOver H2 2014, Chinese insurance companies continued to broaden their investment scope after the relaxation of outbound investment rules that came into effect on 6 October 2014. Previously, any overseas investment project worth more than $100 million required approval from China’s Ministry of Commerce.

It had been somewhat difficult for local institutional investors to compete in ‘on market’ processes, as the time frame required for internal and external approvals often exceeded the sales campaign.

According to the China Insurance Regulatory Commission, domestic insurance companies currently have around 1% of funds invested in real estate assets abroad, against the regulatory ceiling of 15%, suggesting the significant potential for the growth in outbound capital in years to come.

Once traditionally the investment playground for Chinese investors, the drawing out of capital within the Asia region and into new markets previously noted at relatively lower values-per-key is taking place.

Chinese investors with a mandate focused on hospitality have also turned their attention to acquiring management companies. More recently, Shanghai’s Jin Jiang acquired France’s Louvre Hotels Group and the iconic Club Méd was eventually purchased by Fosun International Ltd.

China’s policy change enables investors to more readily compete in international bidding processes. This will have a mixed implication for China domestically. On one hand, less capital circling the country might temper the development pipeline in markets where supply is too high. On the other hand, China faces a risk that local investors won’t focus their attention towards existing assets within China.

China’s continued velocity and buying preferences will shape the future of hotel real estate for some time to come. In 2015, Chinese capital is expected to represent some $5 billion in global hotel investment, making it among the top three exporters of capital globally along with the USA and the Middle East.

Sovereign wealth funds have been quietInvestment into Asia Pacific hotels from sovereign wealth funds has been intermittent at best over recent years and in 2014 no activity was recorded. Typically, hospitality is one of the preferred asset classes for sovereign wealth funds as hotels can provide significant cash flow if successfully operated. The funds have become more astute to pricing and less reluctant to acquire in inflated markets irrespective of whether a hotel may be classed as a ‘trophy’ purchase.

Over the second half of 2014, REITs were responsible for 8% of the total capital invested in the sector, consistent with 2013. Abundant capital, after a period of positive economic growth, has fuelled private company buying, whereas yield-seeking investors have been attracted to the REIT sector over the past few years.

Approximately 30% of buyers were developers and/or property companies whilst investment and/or private equity funds accounted for 26%.

40% of all Australasian capital into hotels came via investment and/or private equity funds.

Corporate Developer / Property Company HNWI Hotel / SA Operator Bank / Institution Investment Fund / PE Other REIT Sovereign Wealth Fund Unknown

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

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Source: JLL

Asia Pacific Purchaser Profile 2010 to 2014

Purchaser activity in 2014 was dominated by buyer groups that have traditionally had little impact in the Asia Pacific hotel investment landscape. Hotel operators increased their overall share to 8% at $527 million with transactions recorded in Australia, Hong Kong, Japan, Singapore and Indonesia. Notable international operators included The Ascott Group, Outrigger Enterprises Group and Ovolo Hotels Group.

Domestic insurance companies currently have around 1% of funds invested in real estate abroad, against the regulatory ceiling of 15%

Sold: Oakwood Apartments Trilliant Sukhumvit 18, Bangkok. 129-key serviced apartment property located in the popular Sukhumvit precinct.


Sold: Sofitel Sydney Wentworth, Sydney. The landmark property was Sydney’s first international hotel and is now one of the most recognised five-star hotels in Australia.



Asia Pacific hotel trading performance 2014With the strong growth in new hotels over the past few years, declines in ADR have been observed in some markets. Similarly, emerging markets with limited upscale hotel stock amid strong tourism demand are recording solid revenue growth. Despite this, hoteliers are facing operational challenges including rising wage and development costs and a skilled worker shortage in some markets.

New room supply has underpinned regional hotel performance with varying results in 2014. JLL expect RevPAR growth in 2015 to remain mildly positive overall. Growth is expected to be driven by Japan and Indonesia, slowed in Mainland China – with the exception of Shanghai – and largely stable in India. Based on previous expansionary cycles, which have lasted seven to nine years in the hotel space, the market still faces several years of future growth, notwithstanding demand shocks. Chinese outbound tourism would continue to drive the region’s growth.

The following league tables highlight the “Top 10” performers of 2014.

Highest Occupancy

Market Occupancy % Chg YTD

Macau 90.6% 6.4%Melbourne 5+ 89.6% 1.8%Tokyo Limited Service 89.1% -0.1%Hong Kong Midscale & Economy 89.1% 2.2%Sydney 87.1% 0.7%Sydney 5+ 86.9% 1.4%Melbourne 85.8% 1.6%Hong Kong Upscale 85.7% 2.3%Singapore Upscale 85.3% 2.8%Perth 84.8% 1.1%

Source: STR Global, JLL

RevPAR Growth

Market RevPAR (Local)

% Chg RevPAR (Local)

Gurgaon Deluxe 3,051 18.0%Osaka 4,506 17.4%Chongqing 371 16.9%Macau 1,559 16.6%Bali Luxury 3,795,921 14.6%Bali Upscale 1,394,541 14.1%Tokyo Luxury 38,070 14.0%Bali Midscale 937,196 12.6%Jakarta Serviced Apartments 1,110,838 12.0%Cairns 105 10.4%


Highest Average Daily Rate

Market ADR (USD)

% Chg ADR (USD)

Maldives 756 7.6%

Hong Kong Luxury 476 4.1%

Bali Luxury 452 2.3%

Tokyo Luxury 432 5.1%

Shanghai Top Tier Hotels 366 7.6%

Singapore Luxury 323 1.9%

Beijing Top Tier Hotels 307 -0.6%

Sanya High-End and Luxury 284 4.4%

Hong Kong Upscale 258 2.5%Taipei Luxury & Upper Upscale 249 6.3%


The statistics are sourced from STR Global, as at YTD December 2014 and reflect market performance of JLL’s standard hotel basket categories, which include a mix of graded (where denoted) and whole-market selections. In total, JLL tracks monthly performance of approximately 75 hotel markets throughout the region.

Our analysis is intended to provide a snapshot of recent Asia Pacific trading trends across the key performance metrics of occupancy, ADR, RevPAR and growth (or fall) of RevPAR.

Last year, the highest occupancy was recorded in Macau (90.6%) which improved 6.4% from 2013. The Maldives achieved the highest ADR of 756, a 7.6% increase from the previous year whilst Gurgaon Deluxe hotels RevPAR grew the strongest in local currency terms (up 18.0%), after several years of negative performance.

Properties for Sale – Australasia


The Sands TorquayTorquay, Australia• Located just over an hour’s drive from the

Melbourne CBD and Airport• The resort comprises a 4.5-star Peppers

Hotel with 112 luxuriously appointed rooms and suites, all with private balconies overlooking the course and coastline

• The par 72, Stuart Appleby designed, 18 hole links style championship golf course is complemented by exceptional facilities that include a modern clubhouse with restaurant, bar and conference facilities which caters for up to 550 delegates

• Available individually or ‘in-one-line’, this sale represents an exceptional opportunity to acquire the freehold and business of a landmark coastal resort property

Peter Harper +61 2 9220 8548 | [email protected]

Hotel ChinoBrisbane, Australia• 38 studio apartments (individually titled),

managers unit, restaurant and commercial office

• Lease over the balance 27 apartments within the building providing a total inventory of 65 apartments

• Located approximately 3.5km from the Brisbane CBD and close to several major demand drivers such as the PA Hospital and Gabba sports ground

• Excellent connectivity to major arterial roads both north and south of Brisbane

• Vacant possession of management available upon sale

• Strong trading profile plus numerous future upside opportunities

Peter Harper +61 2 9220 8548 | [email protected]

Properties for Sale – Australasia


The Westin Sydney & Heritage RetailSydney, Australia• The property encompasses Sydney’s historic

General Post Office building at 1 Martin Place with a modern 31-storey tower

• The five-star hotel features 416 guest rooms and suites, a diverse range of conferencing facilities, the sun-filled Mosaic restaurant and the refined in-house venue The Bar, Lounge and Room

• The Heritage Retail offers over 5,700sqm of premium retail space, encompassing an array of high profile tenancies with over 100m of prime frontage to Martin Place

• This landmark asset is widely regarded as having one of the best CBD locations of all the five-star hotels in Sydney, being bounded by George Street, Pitt Streets and Martin Place, arguably one of Sydney’s most renowned thoroughfares

Craig Collins +61 2 9220 8797 | [email protected]

Properties for Sale – Asia


Boracay Land ParcelBoracay, Philippines• 16.7 hectares of beachfront land, offering

panoramic vistas of the Tablas Strait • Breath-taking coastal position in Boracay,

one of Asia’s most popular resort destinations

• Featuring 560m of beach frontage and picturesque sloping landscape

• Ideally-positioned for luxury resort and/or residential development

• Held on a freehold basis (Torrens title)

Alex Sigeda +65 6494 3903 | [email protected]

BIG HotelSingapore• Recently built 308-key limited service

boutique hotel in the heart of Singapore’s thriving Cultural Civic District

• Strategically located close to the city’s Central Business District and the bustling Orchard Road

• Strong trading performance since its launch in mid-2013, achieving over 90% occupancy during the second half of 2014

• Offered with the benefit of a secure lease for an initial three-year term, with the potential for a lease extension or vacant possession thereafter

Paul Chakkrit +66 2624 6562 | [email protected]



Four Seasons LangkawiLangkawi, Malaysia• Award-winning resort with exceptional

reputation and future development potential • Prominent location along scenic Andaman

Sea coast, steps away from the pristine Tanjung Rhu beach and a short drive away from Langkawi International Airport

• Designed by two world renowned architects and built over approximately 273,300sqm of beachfront land

• Featuring 91 villas and pavilions, four food and beverage outlets, two swimming pools, a spa with six therapy rooms, state-of-the-art fitness centre and in excess of 470 square metres of flexible function space

• Commanding market position, enjoying superior rates that are more than double the average rates of competitors in the market

Nihat Ercan +65 6494 3933 | [email protected]

Mahadhdhoo IslandRepublic of Maldives• Opportunity to complete resort development

on the 119,000sqm island• Located a scenic 15-minute speedboat

journey away from Kooddoo Airport• Offered with the benefit of vacant

possession of brand and management• Held under a direct lease agreement with

the Ministry of Tourism• Luxury resort market with strong

fundamentals

Nihat Ercan +65 6494 3933 | [email protected]



MiCasa Hotel ApartmentsYangon, Myanmar• Well-established 183-key serviced

apartment property in one of Asia’s key emerging economies

• Prime location along Kaba Aye Pagoda Road, directly facing the Inya Lake and with great accessibility to CBD, Yangon International Airport, and various cultural attractions

• Offered with vacant possession of management in a tightly held real estate market

• Strong demand/supply fundamentals, with the dynamics expected to remain in owners’ favour for the foreseeable future

• Fully transferable investment, allowing for 100% foreign ownership

Adam Bury +65 6494 3905 | [email protected]

Best Western Premier Incheon AirportSeoul, Korea• Featuring 305 guest rooms and suites, food

& beverage outlets and circa 890 square metres of banquet space

• Strategically located next to the Incheon International Airport and one of only two international grade hotels located within the International Business Centre

• Offered with the benefit of a franchise agreement with Best Western International expiring in 2018

• Stabilised income stream with proven performance history

• Proximity to a neighbouring mega casino development which, upon completion in 2017, will increase the overall economic activity at the airport and room demand




Courtyard by Marriott BaliBali, Indonesia• 290-key property built to Marriott

International’s brand standards, which are widely regarded to be amongst the highest in the industry

• Situated three minutes away from Seminyak’s iconic beach and enjoying good access to Kuta, Legian and Petitenget Road, as well as to the international airport

• Held under the highest level of ownership possible, Hak Guna Bangunan (HGB) for either a domestic or foreign company, or Hak Malik (freehold) for an Indonesian individual

• Offered with the benefit of management agreement with Marriott International, one of the most successful hotel operators in the world

• One of Asia’s and the world’s most popular resort destinations, Bali is renowned for its picturesque beaches, pristine nature, and charming culture


Holiday Inn Express JakartaJakarta, Indonesia• Located in Central Jakarta within the Golden

Triangle with easy accessibility to the CBD and retail districts

• Newly designed, high quality 212-key hotel, constructed to IHG’s international hotel standards

• Operated by one of the fastest growing hotel brands in the world, renowned globally for its value, convenience and quality

• Rare opportunity to penetrate the Jakarta’s tightly held hotel market with an internationally-branded asset



ContributorsHotel Investment Highlights brings you real-time market insights from Asia Pacific’s leading hotel investment and research specialists.

Craig Collins Chief Executive OfficerAustralasia

Scott HetheringtonChief Executive OfficerAsia

Mark DurranManaging DirectorAustralasia

Mike BatchelorManaging DirectorAsia

Frank SorgiovanniHead of Research Asia Pacific

Troy Craig Managing DirectorStrategic AdvisoryAsia Pacific

Tom Sawayanagi Managing DirectorJapan


JLL’s Hotels & Hospitality Group serves as the hospitality industry’s global leader in real estate services for luxury, upscale, select service and budget hotels; timeshare and fractional ownership properties; convention centres; mixed-use developments and other hospitality properties. The firm’s 300 dedicated hotel and hospitality experts partner with investors and owner/operators around the globe to support and shape investment strategies that deliver maximum value throughout the entire lifecycle of an asset. In the last five years, the team completed more transactions than any other hotels and hospitality real estate advisor in the world totalling nearly USD36 billion, while also completing approximately 4,000 advisory, valuation and asset management assignments. The group’s hotels and hospitality specialists provide independent and expert advice to clients, backed by industry-leading research.

For more news, videos and research from JLL’s Hotels & Hospitality Group, please visit: www.jll.com/hospitality or download the Hotels & Hospitality Group’s iPhone app or iPad app from the App Store.

Jones Lang LaSalle’s Hotels & Hospitality Group Singapore CEA Licence: L3007326E

Note: All currencies are USD unless otherwise mentioned. Exchange rate correct as at date of sale.

COPYRIGHT © Jones Lang LaSalle IP, INC. 2015

All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of Jones Lang LaSalle. It is based on material that we believe to be reliable. Whilst every effort has been made to ensure its accuracy, we cannot offer any warranty that it contains no factual errors. We would like to be told of any such errors in order to correct them.

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Asia Pacific - Amazon S3€¦ · Australia & Japan dominate investment activity 12 China becoming a major player in hotel real estate globally 12 Sovereign wealth funds have been