According to investment data tracked and analyzed by JLL Asia, pacific hotel investment remained flat in the first half of 2021 with $3.7 billion in sales, a decline of 3.7% year-on-year.
Asia Pacific hotel investment remained flat in the first half of 2021 with $3.7 billion in sales, a decline of 3.7% year-on-year. In total, 61 hotel investment deals were transacted in the first half of the year across nine countries and representing over 10,000 rooms.
International property consultant Knight Frank is reporting that Portugal, along with Spanish and Greek islands, have been declared safe for UK residents to travel to by the Foreign and Commonwealth Office (FCO). This comes after the European Union announced that it will open its door to vaccinated travellers from the start of June 2021.
The global economy has been badly hit by the COVID-19 pandemic as it hindered economic activities and travels between countries.
60% of the operators surveyed believe that it will take between 13 to 24 months for their portfolio to return back to 2019 RevPAR levels.
Posted on July 02, 2020