Hotel sales in Singapore topped US$376 million

Hotel sales in Singapore topped US$376 million last year, putting it in sixth position in transaction activity in Asia.

This is a 3.5 per cent growth from 2006.

According to Jones Lang LaSalle Hotels, Japan saw the highest activity last year with US$6.8 billion of deals done, a 63 per cent jump from the previous year.

Jones Lang attributed the lure of Japan to the low cost of debt.

It added that while economic growth rates may not be as strong as some parts of the world, Japanese hotels still offer a positive yield spread.

Hong Kong trailed a far second with US$850 million of sales transacted, followed by China with US$727 million. - CNA/ac

Source : Channel NewsAsia - 21 Jan 2008