BANGKOK AND
SINGAPORE, 30 July 2012 – Jones Lang LaSalle Hotels is predicting the
island
resort of Phuket to be one of Asia Pacific’s hotel investment hot spots
in
2012, following record sales in the first half of the year. Investment
in the
hotel property sector in Phuket is expected to exceed THB10bn (US$315m)
for the
full year for first time ever in 2012.
Mike Batchelor,
Managing Director of Investment Sales at Jones Lang LaSalle Hotels
said:
"Phuket has seen record investment in the first half of 2012 and the
market looks on track to enter a renewed period of growth as savvy
international investors strategically secure landmark properties in
Asia's
premier resort destination.”
"With
international passenger volumes surging 30% in 2011, the island’s
international
appeal remains strong. In fact, international visitors to Phuket
exceeded
domestic arrivals for the first time. This growth has been fuelled by
excellent
air links and the expansion of low cost carriers across the region,”
Batchelor
added.
Other factors
driving growth to the region include a US$180m planned airport upgrade
slated
to commence later this year, which will double the existing capacity to
12.5m
passengers per annum. In addition, political stability in Thailand
since the
2011 elections has seen international confidence return to the region
as
evidenced in the spate of recent sales.
Further activity is
expected in the second half of 2012 with Jones Lang LaSalle Hotels
launching a
five star asset on Phuket’s west coast this week, which is scheduled to
open
ahead of the peak season this year.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE: JLL) is a
financial and professional services firm specializing in real estate.
The firm
offers integrated services delivered by expert teams worldwide to
clients
seeking increased value by owning, occupying or investing in real
estate. With
2011 global revenue of US$ 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.