NEW YORK Bangkok and Singapore have overtaken Bali, Indonesia, as the Asia-Pacific regions most-attractive hotel investment markets, according to the latest quarterly survey of the worlds largest hotel owners and investors by Jones Lang LaSalle Hotels.
In addition to Bangkok, Singapore and Bali, more than half of the respondents also indicated an intent to invest in Sydney. Thats despite investors negativity on Sydneys short-term performance outlook, as the market absorbs new hotels opened in time for the Olympic Games.
Respondents were most optimistic about the Asia-Pacific region for the medium term, with a negative outlook only for Bombay, which they said is in the “early downturn” stage of the market cycle as hotel projects under way will double the citys supply of luxury rooms. In the short-term, the picture is rosiest for Seoul, Singapore and Phuket, Thailand. Those markets already enjoy high occupancy and room rates. In the medium term, they are overshadowed by Bali, which is recovering from a downturn. (1/23/01)
SOURCE:Wall Street Journal