Asia-Pac hotel investment hits 5-year high in 2013

[SINGAPORE] Investing in Asia-Pacific hotels seemed the thing to do last year, with the hospitality investment market in the region hitting a five-year high on a transaction volume of US$12.83 billion.

This was 30 per cent higher than the figure for 2012, said real estate services firm Cushman & Wakefield in its report on hotel markets across 17 gateway cities and prime destinations in Asia and Australia.

China was the largest market last year, followed closely by Singapore.

China accounted for US$2.636 billion or 20.5 per cent of the total investment volume; Singapore came in at US$2.634 billion, with Japan third (US$2.61 billion) and Australia, fou…