HOSPITALITY MARKETS / TRAVEL / RESORTS / INTERNATIONAL PROPERTY MARKETS TRENDS & ISSUES

Worldwide Hotel Transaction Levels to Reach $30 Billion Again in 2012

http://www.hotelnewsresource.com/article60411Worldwide_Hotel_Transaction_Levels_to_Reach_____Billion_Again_in_____.html

Despite continuing economic uncertainty, Jones Lang LaSalle Hotels is forecasting that global hotel transaction volume will hold steady in 2012 reaching upwards of $30 billion in transactions. Investors are still attracted to high quality, income producing hotel real estate as part of a portfolio of assets. Private equity players increased investment activity in the second half of 2011 and are expected to continue this ambitious activity in 2012 selectively acquiring assets in secondary locations. Sovereign wealth funds and private high net worth individuals will take a long-term view and make strategic acquisitions globally. The biggest sellers in 2012 will be bank-induced due to debt maturities and the challenge of refinancing.

US Hotel Occupancy Up 3.4% to 49.0% Week Ending December 24th – 2011

http://www.hotelnewsresource.com/article60409US_Hotel_Occupancy_Up______to_______Week_Ending_December___th_______.html

The U.S. hotel industry experienced increases in all three key performance indicators during the final week of 2011: year over year occupancy increased 3.4% to 49%; average daily rate increased 4.3% to $107.56; and revenue per available room increased 7.8% to $52.69. The top markets included Norfolk-Virginia Beach, VA, Nashville, TN, Atlanta, GA and Los Angeles-Long Beach, CA.

Resort casino debate could become epic battle

http://www.miamiherald.com/2012/01/07/v-fullstory/2578585/resort-casino-debate-could-become.html

The most powerful business and political interests in Florida are lined up to fight over the fate of destination resort casino. On one side are religious groups, restaurant, tourism and lodging companies, the Florida Chamber of Commerce and Orlando’s Disney Company, financing lobbyists, consultants, television ads and polls to kill the bill. On the other side are national and international casino resort companies, including Genting Americas, Las Vegas Sands and Wynn Corporation, Associated Industries of Florida, as well as building trade and construction groups that see the multi-billion construction project as a way to stop the exodus of skilled workers from south Florida. Genting worked quietly with New York Gov. Andrew Cuomo to close a deal on what is to be the nation’s largest convention center. Cuomo stated in his state-of-the-state speech that he will push for a state constitutional amendment to allow casino gambling. However, Miami remains the crown jewel of U.S. gaming markets due to climate, beaches and tourist draw. It will be in the hands of the state legislature and based on past history, do not count on anything definitive any time soon, probably not even in 2012. This may be a long fight.

Top Predictions for the Travel Industry in 2012

http://www.eyefortravel.com/print/38772

The top issues predicted to affect the travel industry in 2012: the financial stability of the Euro; political unrest in the Middle East and the impact on oil prices; continued decelerating economic growth in China, India and Brazil; advances in using social media in travel transactions; and whether the U.S. economy continues to heal or slips back into recession.

5 beachfront resort areas with hot real estate deals

http://blogs.reuters.com/reuters-money/2011/06/24/summertime-and-the-buying%E2%80%99s-easy-5-beachfront-resort-areas-with-hot-deals/

Due to a depressed real estate market and low interest rates, it is a good time to purchase beachfront and/or resort property. Five top spots to consider: Miami Beach, Ft. Meyers and West Palm Beach, FL; San Diego, CA; and Lewes, Rehoboth Beach and Dewey Beach, DE.

Resort Real Estate Market Insight – Where Is The Second Home And Resort Market And Where Is It Going

http://www.immrc.org/resort-real-estate-market-insight-where-is-the-second-home-and-resort-market-and-where-is-it-going.html

Resort real estate is both a monetary and a family investment. Traditionally second home buyers reported that they panned to use their new purchase as a family retreat or for vacations. At the height of the real estate bubble, buyers were purchasing a second home for a tax benefit, for use by a family member, friend, or relative or as an investment. The tide is turning and the end user who is purchasing resort real estate for family enjoyment for the long term is returning to the market.

Rent-free periods to continue in 2012; expect further declines

http://www.zawya.com/story.cfm/sidZAWYA20120108101305/Rentfree_periods_to_continue_in_2012_expect_further_declines

Rental rates in the Northern Emirates us stagnant and further declines are expected. A number of buildings will obtain an electricity connection in 2012 which will increase the available units and cause rental rates to continue to drop. Landlords continue to offer rent-free periods of one or two months with no commission on new projects. Connectivity issues throughout the Northern Emirates will continue and will be resolved slowly due to the high number of buildings ready for completion.

DAMAC Properties to give away luxury cars like Lamborghini, BMW or MINI with property purchased during the festival

http://www.zawya.com/story.cfm/sidZAWYA20120109113234?q=real estate development

DAMAC Properties, an internationally recognized, high-end developer is giving away luxury cars such as Lamborghini or BMW with the purchase of properties during the month long Dubai Shopping Festival. DAMAC Properties is known for staging some of Dubai’s most elaborate promotions, including giving away luxury apartments and a private jet. DAMAC states they have a range of quality residential, commercial and residential properties in Dubai which offer phenomenal value. All cars will be delivered to the Dubai showroom and depending on ordering and delivery times are expected to be available to the new owners July 2012.