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Jones Lang LaSalle Hotels Latest European Hotel Investor Sentiment Survey
Indicates 40% of Respondents Intend to Buy Over Next Six Months


MENA, 23 December 2012 - The latest Hotel Investor Sentiment Survey by Jones Lang LaSalle Hotels reveals that 40% of respondents stated that their investment activity over the next 6 months will be to ‘buy’ assets, with positive buy intentions focused on Germany’s major cities and other key European markets including London, Warsaw, Vienna, Amsterdam and Paris.

Gabriel Matar, Regional Director Middle East & Africa Jones Lang LaSalle Hotels said: “Survey results indicate that confidence in hotel real estate is holding up well despite the economic problems in Europe. Cap rate requirements remain firm at an average of 7.2 per cent, with keener yields for key gateway markets such as Paris, London and in key German cities where aggressive bidding has driven prices to peak levels. Yield requirements remain higher in MENA. Dubai yield expectations are at 10%.”

When it comes to the most sought after asset type in Europe, Middle East and Africa (EMEA) results show that 28.8 per cent of respondents indicated their interest in targeting upscale properties for investments, with the sentiment in this asset class rising significantly since the last Hotel Investment survey in May 2012. Demand for luxury assets is highest in Dubai, Abu Dhabi and the French Riviera.

In the Middle East and Africa, trading performance expectations have improved significantly since the last Hotel Investment survey although the outlook still remains slightly negative for the short and medium term. The improvement in sentiment is largely due to an overall stabilization in the region since the Arab Spring and tourist flows have started to return to countries such as Egypt and Tunisia.

Gabriel Matar continues: “Since the downturn of 2009, Dubai hotels have reported a strong recovery in occupancy and average daily rate (ADR) levels. In light of a slowing development pipeline and political stability in the country, investors believe that Dubai’s operating fundamentals will continue to improve in the short and medium term. Dubai is the best performing MENA hotel market and is certainly the one to watch in 2013.”

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE: JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of US$ 3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with US$ 47.2 billion of assets under management.

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Contact:

Bansrelal Goshichand
+971 4 426 6914 / +971 50 72 85911
bansrelal.goshichand@jll.com

Marcus Pepperell / Manash Bhuyan
+971 50 7052045 / +971 50 8419631
marcus.pepperell@fticonsulting.com / manash.bhuyan@fticonsulting.com


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