Previous owners of Asian hotels increasingly stick around to manage

08/8/2007 | International Herald Tribune

An increasing number of hotel owners in Asia who sell their properties to institutional investors are staying on to run the operations. "In the last year, we've seen quite a change in Asia, where investors are increasingly happy to acquire hotels with management contracts in place," said Scott Hetherington, managing director for Asia at Jones Lang LaSalle Hotels. "This phenomenon has been occurring for the past three to four years in the United States, Europe and Australia."

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