U.S. Hotel Cost Cuts Spur Investor Interest: Study
Investor interest in the U.S. hotel industry has been rekindled by the recent efforts of hotel companies to temper expansion plans and cut costs amid a deep recession, according to a recent report by Jones Lang LaSalle Hotels. In the first quarter, 23 funds outlined investment strategies that relied heavily on hotels, according to the report titled "Seven Winners in the Current Market." Of these funds, the largest is the $10.9 billion Blackstone Real Estate Partners 6 that has so far invested $4.1 billion. The other 22 funds aim to raise $11.1 billion in total.