Market volumes in the first three months of 2016 we saw a slow down in global hotel transactions, off the back of a stellar 2015. However, the market is all about consolidation as we enter Q2, says Mark Wynne Smith, Global CEO of JLL’s Hotels & Hospitality Group. He gives his perspective on the first quarter numbers and explores what investors and operators can expect in the months to come.
2015 is marked the second-highest year on record on hotels and hospitality market volumes transactions globally, topping a US$85 billion as well as posting a 50% growth on 2014. With 2015 exceeding all predictions in terms of amount and capital flowing into the hotels and hospitality sector, There is a positive momentum as the transition into this phase of the expansionary cycle on hotel & hospitality sector.
JLL Hotels and Hospitality Group is one of the top players on global market; heres a quick thoughts and view of the CEO of JLL Hotels & Hospitality Group.
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JLL (NYSE: JLL) (www.JLL.com) is a professional services and investment management firm offering specialised real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square metres, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.JLL.com.