JLL Hotels & Hospitality Group launches dedicated South Korea business

JLL Hotels & Hospitality Group has launched its dedicated South Korea advisory and investment services office in Seoul.

“South Korea has witnessed a rapid rise in hotel development in recent years, initially centered around Seoul but now expanding outwards to other destinations,” said Xander Nijnens, managing director, head of advisory & asset management, Asia Pacific, JLL Hotels & Hospitality Group. “The evolution of the market and a spike in development has resulted in a broadening of the hotel investor base domestically and has also attracted a number of international investors to the market. The specialized hospitality advisory and brokerage services will complement the wide range of real estate services offer by JLL in Korea across all asset classes.”

South Korea is ranked fourth in terms of hotel transaction volume in Asia Pacific with $1.4 billion transacted in 2019 and $770 million in 2020. JLL analysis also shows that investment volumes in