North Asia led the region’s recovery with a strong flow of investment activity while Southeast Asian markets are anticipated to steadily reopen borders by implementing a variety of travel schemes.

• In Q3/2021, an APAC hotel investment volume of US$2.2 billion was registered across 43 transactions, up 12% yearon- year (YoY). 75% of the transactions were completed by domestic buyers. The top three most active markets this quarter were Japan, South Korea and Taiwan, together accounting for 51% of the total regional hotel sales volume. 
• With three transactions, Japan led the region with a total hotel transaction volume of US$590 million, a sharp increase compared to the same quarter last year which reported US$168 million. 
• Taiwan recorded US$265 million across six transactions. This reflects a decrease of 72% YoY, mainly due to the sale of Sunworld Dynasty, largest hotel transaction of 2020. 
• Reporting the highest number of transactions in the region this quarter, South Korea registered US$253 million across ten transactions.