A steady flow of capital is expected to continue in the hotel real estate market in 2012 with increasing investor interest in select service transactions, according to Jones Lang LaSalle Hotels. Compared to 2011 activity, the firm forecasts that the 2012 volume of select service hotel portfolio sales is likely to double.“The select service sector is the most agile and resilient of the hotel transaction market. Its demand has quadrupled in the last 15 years, giving way to growth in the product offering,” said Al Calhoun, Managing Director of Jones Lang LaSalle Hotels. “An increase in corporate demand at branded upscale select service hotels is expected to bolster the performance for the overall sector in 2012.”
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