Middle East investment in global hotel sector estimated to double in 2007 to USD7 B according to Jones Lang LaSalle Hotels report

These finding were made public in an international hotel investment report released at the Arabian Hotel Investment Conference by leading global hotel investment advisory organization Jones Lang LaSalle Hotels.

"No other region in the world exports capital at the same rate as does the Middle East into the burgeoning global hotel sector" said Jones Lang LaSalle Global Chief Executive Officer Arthur de Haast.

"Based on the activities over the past few months as well as the substantial international investment pipeline already in place, this investment is expected to double again this year, a historic achievement in global real estate investment".

Strategic investment by investors from the Middle East into the European hotel market more than doubled between 2005 and 2006, accounting for more than 9% of total transaction value last year. Middle East investors accounted for more than 5% of the total international hotel investments in Asia Pacific in 2006.

"Middle East investor interest in the hospitality market is not limited to recent high profile investments in London and New York" said Jones Lang LaSalle Middle East and North Africa Managing Director Thierry Loue. "The leading investors outside their home countries but within the Middle East and North Africa (MENA) region are from the UAE, followed by Qatar and Kuwait. UAE investors alone account for more than 76% of MENA regional hotel investment. These investments, primarily in new hospitality investments are estimated to be in excess of $10 billion".

The combination of strong regional and international interest in the hotel and hospitality sector has increased global hotel owner and investor awareness of the relative investment strength of the Arabian Gulf countries over the past few years. The combination of unprecedented current account surpluses by Gulf governments, coupled with significant growth in the regional economies has resulted in leading regional public companies, private business organizations as well as government investment organizations looking to diversity their investments with hotels and the hospitality sector being one of the most robust in recent years.

Jones Lang LaSalle Hotels is the world's leading hotel investment and advisory organization that has recently opened pan-regional offices in the UAE based in Dubai.

Key Middle East Global Transactions 2006
W Hotel Times Square by Istithmar
Travelodge UK Portfolio (291 hotels) by Dubai International Capital
Knickerbocker Hotel, New York, by Istithmar
Le Meridien Gallia Hotel, Milan, Italy by Qatar Investment Authority
Crowne Plaza Karon Beach, Thailand by Kingdom Hotel Investment
Grosvenor House Serviced Apartments by private Middle East investment group.