Hotel sales volume hits $21.8b.Jones Lang LaSalle Jones Lang LaSalle (NYSE: JLL) is a major real estate and money management services firm headquartered in the Aon Center in Chicago, Illinois and the only company in its industry making it into Fortune magazine's list of the 100 Best Places to Work in the U.S. Hotels announced today that the volume of U.S. hotel sales through June of this year has set a record at $21.8 billion, surpassing the total volume of 2005 of $21.0 billion in just six months. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Jones Lang LaSalle Hotels' proprietary database, which tracks transactions $10 million and above, 135 transactions closed during the first half of the year. Given this pace of transaction activity, combined with the volume of assets currently on the market and investors' positive outlook, Jones Lang LaSalle Hotels forecasts full year transaction volume for assets $10 million and above to exceed $30 billion in 2006. "Hotels continue to offer excellent risk adjusted returns relative to other forms of real estate, good current yields and extremely strong long term IRRs, a good annuity income stream, and an exceptional inflation hedge Inflation hedge Investments designed to hedge against inflation and the loss of purchasing power associated with it. inflation hedge An investment with a value directly related to the level of general price changes. ," said Arthur Adler, managing director and CEO-Americas for Jones Lang LaSalle Hotels. "In particular, private equity firms have capitalized on this opportune op·por·tune adj. 1. Suited or right for a particular purpose: an opportune place to make camp. 2. Occurring at a fitting or advantageous time: an opportune arrival. time to invest in hotels, adopting a combined income and capital growth strategy and public REITs continue to be active investors due to their strong earnings multiples." "The U.S. is leading the trend for global hotel sales with its explosive activity. Globally, the volume of full service hotel sales is poised to exceed $60 billion--a 33% increase over last year, with U.S. sales comprising half of that volume," said Kristina Paider, senior vice president of marketing and research for Jones Lang LaSalle Hotels. Of the top ten hotel sales for the first half of the year, four single asset transactions exceeded the $300 million mark, with the Four Seasons Resort Hualalai The creator of this article, or someone who has substantially contributed to it, may have a conflict of interest regarding its subject matter. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. in Hawaii (arranged by Jones Lang LaSalle Hotels), leading the pack at more than $500 million, followed by the Westin St. Francis in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Swissotel The Drake in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and the Chicago Marriott Downtown (financing arranged by Jones Lang LaSalle Hotels). |
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