Jones Lang LaSalle Hotels expects hotel transaction volume in the Americas to reach US$13 billion this year.
Furthermore, the company predicts the United States will be one of the most active markets for hotel transactions in the world.
“Due to additional capital raises, REITs are expected to continue to be dominant buyers in 2011, and private equity groups and institutional investors will increasingly join the mix as leverage levels and terms improve. The expanded depth of active buyer groups along with a greater number of lender-driven sales are the key drivers behind our increased projection for deal volume,” Arthur Adler, JLLH’s managing director and CEO-Americas, said in a news release.
The Hotel Industry Pulse Index increased by 0.4% during November after a 0.2% uptick in October, but the measure’s six-month growth rate continues to slow.
HIP's six-month growth rate, which historically has signaled turning points in U.S. hotel business activity, fell to 10.8% during November after an 11.9% growth rate in October.
“With the November Hotel Industry Pulse Index report, we see that the U.S. hotel industry's recovery pace has slowed but continues. Although expected, we remain cautious as we continue to see slowdowns in growth rates,” said Evangelos Simos, chief economist of e-forecasting.com.
With all the layoffs that have occurred during the past two years, there are plenty of skilled middle managers available in the marketplace. HotelNewsNow.com’s Patrick Mayock outlines six characteristics hiring managers should look for during the interview process.
Long, solid tenures, success with measurable objectives, and evidence of strategic thinking are all things to keep in mind when evaluating candidates, human resources professionals said.
Private-sector employment in the U.S. increased by 297,000 from November to December, according to the ADP National Employment Report.
The estimated change of employment from October to November was revised downward slightly to an increase of 92,000 from an increase of 93,000.
U.S. construction spending during November was estimated at a seasonally adjusted annual rate of US$810.2 billion, which is 0.4% above the revised October estimate of US$806.7 billion, according to the U.S. Census Bureau.
Year-over-year, construction spending is 6% below the November 2009 estimate of US$861.5 billion.
Compiled by Shawn A. Turner.