Australia’s hotel investment market is the hottest it’s been in at least 20 years with total sales for 2013 tipped tipped to reach A$1.9 billion. Jones Lang LaSalle says 2013 transactions are already up 84.9% over last year.
Buyers are evenly split between domestic and international, with most interest coming from Southeast Asia, China, Korea and the United Arab Emirates. About half the transaction so far have been in Sydney.
The sales boom is attributed to strong returns relative to to other sectors, limited supply and market transparency.
Hotels currently on the market include Quest Sydney Olympic Park, Mercure Hadley’s Hobart and Grand Mercure Hobart Central Apartments.