Asian Hotel Property Market Emerges from Slump: Survey

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Last updated at: (Beijing Time) Monday, August 19, 2002

Asian Hotel Property Market Emerges from Slump: Survey

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Investors around the globe believe the hotel property market in Asia-Pacific region has begun to recover from its recent slump and the Chinese market will continue to outperform others in the region, a latest survey said.

According to results of the survey released Monday by the Asian service of Jones Lang LaSalle Hotels, an international hotel property trader, 1,800 leading investors in the sector worldwide surveyed said they think the regional market has bottomed out and a recovery has begun.

They also believe the Chinese market will continue to exude confidence in trading performances in the short and medium terms, with Shanghai and Beijing being the outstanding performers in the region.

China's recent entry into the World Trade Organization and Beijing's successful bid for the 2008 Olympiad provide sufficient cause for investor optimism, said Jones Lang LaSalle Hotels.

Other regional markets with a positive short-term outlook include Thailand and South Korea, it said.

Given its proximity to China's mainland, investors also expect hotel trading in Hong Kong to improve in the mid-term, according to Jones Lang LaSalle Hotels.

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