Global hotel property sales totaled $24.5 billion in the first half of 2025, marking a 17.5% decline year-over-year and a 31% drop compared to the same period in 2019, according to the latest Global Hotel Investment Trends report by JLL.
The report notes a reduced number of sale transactions compared to the previous year, with a notable shift in market dynamics: properties priced under $200 million now represent 77% of all transactions.
Despite the dip in investment activity, underlying property fundamentals remain strong. “Global RevPAR (revenue per available room) continues to reach historic levels; however, growth has begun to moderate amid worsening consumer sentiment as geopolitical volatility increases,” JLL stated.
Since 2019, RevPAR gains have registered double-digit growth across all regions except Asia, where the figures have declined. Hotel development remains limited due to persistently high construction costs, which continues to favor existing properties.
Looking ahead, JLL forecasts that decelerating supply growth and greater clarity in debt markets will drive future hotel investment activity. Hotel brands are expected to leverage strengthening balance sheets as new development slows, creating renewed opportunities for transactions in the sector.
