Global hotel investment services firm Jones Lang LaSalle Hotels has reported that US$13.9bn (9bn euro, £7.13bn) worth of hotels have traded globally in the first half of 2008, representing a global hotel sales decline of 76 per cent on last year’s figures.

By region, the largest drop was recorded in the Americas (-81 per cent), followed by Asia Pacific (-67 per cent) and EMEA (-59 per cent).

However, according to global CEO Arthur de Haast, the hotel investment market in 2008 appears to be in a “much stronger position” when compared to the 2002-2003 period, which followed September 11, 2001, the Iraq War and the SARS outbreak in 2003.

Based on year-to-date numbers, the 2002-2003 period remains the lowest point for the hospitality industry in this decade. Details: joneslanglasallehotels.com