Announcing the appointment, Jones Lang LaSalle Hotels� Managing Director Asia Pacific, Mr David Gibson, said �Mr Sawayanagi�s blend of investment banking skills and his international experience with up-scale hotels disposition and real estate finance will significantly strengthen Jones Lang LaSalle Hotels� global leadership in providing specialist hotel investment services to its clients�.

In the past, the Japanese market was characterised by large corporations holding hotel assets, with transactions taking place off the market, between principals.  �With the unsettling of the Japanese economy a number of firms have had to reconsider investment plans for hotel assets that were under performing.  In this situation one of two things have to happen: the asset will need to be sold, creating a need for brokerage and transaction advice, or alternatively advisory and asset management services will be required.� said Mr Gibson.  

�Japanese investors have a significant presence in Australia, owning properties to the total of 6,636 rooms throughout Australia.  Looking back at September 1999, Japanese owners had control of 9,158 rooms, 27.5% of which have since been sold.  Such activity demonstrates the need for Jones Lang LaSalle Hotels to have professionals located in Tokyo to best service client needs� continued Mr Gibson. �Our competitors may have a minor presence in Japan, but no one has a strong foothold or is doing all the work there.  In that respect, have been one of the first ones to make a large investment in staff for that area�. 

Mr Sawayanagi has been responsible for the sale and asset management of a number of international hotels and resorts throughout most regions of the world including such prestigious projects as: Four Seasons Hotel New York, Regent Hotel Fiji and Four Seasons Resort Bali Indonesia.

Most recently Mr Sawayanagi was responsible for hotel related advisory and real estate finance within Greenwich NatWest�s Tokyo office.  �Mr Sawayanagi�s appointment will enhance Jones Lang LaSalle�s ability to service more closely its Japan based clients both domestically and internationally� continued Mr Gibson.

Mr Sawayanagi obtained a Masters Degree from the Cornell School of Hotel Administration and holds a Batchelor of Economics from Hitotsubashi University in Tokyo.