Jones Lang LaSalle Hotels Predicts $110B Worth Of Global Deals By Year’s End

LONDON— Another record year for hotel sales is becoming a reality, as Jones Lang LaSalle Hotels estimates that $110 billion worth of global hotel transactions may take place by the end of 2007. If such volume does indeed come to fruition, it would represent a 52% increase over last year’s record-breaking figure of $72.5 billion. As of June, the global deal volume hit $56 billion, which is higher than initially projected. Transaction activity in the U.S. is particularly driving the volume increase, according to Jones Lang LaSalle Hotels.