The value of global hotel property sales reached $24.3bn (£15.2bn) last year as investors returned to the market, according to annual research from Jones Lang LaSalle Hotels.
The property agent's Hotel Investment Outlook report shows that the Americas region registered the most dramatic rise in 2010, with transaction volumes increasing five-fold to $11.1bn (£6.4bn) driven by acquisitive investment vehicles and the $3.9bn (£2.4bn) purchase of Extended Stay Hotels.
Europe, Middle East and Africa (EMEA) was the second most active region, experiencing a more than 110% jump in volumes to $9.3bn (£5.8bn)
Activity across Asia Pacific edged upwards at a more moderated pace with total sales of $3.9bn (£2.4bn)
The EMEA region is projected to increase to $13.1bn (£8.2bn) during 2011, with bank-driven sales driving a significant portion of this figure, particularly in the UK, Ireland and Spain.
This year will also see an increase in cross-border investments, according to Arthur de Haast, global chief executive at Jones Lang LaSalle Hotels.
"With more clarity on operating fundamentals, continued breadth of equity capital in the market, and generally reduced risk perceptions, investors will be more open to opportunities beyond their home markets," he said.
"Fortune favours the bold. Early movers and risk takers will often be rewarded, and the global mantra across all markets and segments in 2011 will be the focus on hotel fundamentals."
By Daniel Thomas