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Appetite for Quality Hotel Assets in Stockholm Continues into 2013
According to Jones Lang LaSalle's Hotel Intelligence Report Sweden

London, 3rd December 2012 –Investor appetite for Swedish hotel assets is expected to continue as we look to 2013 according to Jones Lang LaSalle Hotels’ latest Hotel Intelligence report for Sweden. A stable economy, as a result of the country quickly rebounding after the economic crisis in 2009, and robust operating conditions in Stockholm has resulted in investment interest increasing and hotel assets in Stockholm showing one of the lowest yield requirements in Europe, at 5.9%.

Transaction activity in 2012 at year-to-date June 2012 has amounted to just below $100 million. A total of four hotels changed owners, the largest transaction being the 4-star, 128 bedroom Renaissance Malmö, which was sold for €45 million to Fastighets AB Balder.

Jon Hubbard, CEO UK and Northern Europe Jones Lang LaSalle Hotels commented: “The hotel investment market in Sweden is dominated by domestic investors and only a limited number of foreign acquisitions have been witnessed in recent years. Despite the presence of a number of foreign operators, Sweden is likely to stay predominantly in the hands of Nordic brands, which are well known to domestic visitors, who continue to account for the Lion’s share of demand. This type of asset will continue to attract interest from domestic investors; however, they may struggle to raise the interest of international capital, which tends to focus on international branded hotels.”

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:

Josef Filser
+44 20 7399 5070
josef.filser@eu.jll.com


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