Global hotel transaction volume reached $42 billion during the first half of the year, driven by cross-border investment, according to JLL.

U.S.-based private equity funds remain the largest source of capital flowing into hotels, but the first half of 2015 saw a significant rise in transactions involving investors from China and the Middle East, which allocated $9.8 billion to global hotels, up from $2.3 billion during the same period of 2014.

“One of the biggest trends of 2015 is the surge in Middle Eastern and mainland Chinese investment into hotels globally. This is despite some underlying concerns across the globe, such as the Greek debt crisis and the recent fluctuations in the Chinese stock market,” said Mark Wynne-Smith, global CEO of JLL Hotels & Hospitality, in a statement. “At the start of the year, we predicted full-year global hotel transaction volumes of $68 billion. We’ve achieved 60 percent of this already in the first half of 2015 and, if mo