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Jones Lang LaSalle Hotels appoints new head in China and expands its Asia team

To keep pace with the strengthening hotel real estate and investment market in China, Jones Lang LaSalle Hotels recently opened a full service…

To keep pace with the strengthening hotel real estate and investment market in China, Jones Lang LaSalle Hotels recently opened a full service office in Beijing and will also open an office in Shanghai in the near future.

To strengthen our hotel services team and spearhead our growth in China, we have appointed Mr Andreas Flaig as Executive Vice President, said Mr Scott Hetherington, Managing Director Asia, Jones Lang LaSalle Hotels.

Andreas`s strong hotel investment background; more recently leading a hotel advisory team in one of Europe`s leading international property banks – Germany`s Aareal Bank AG, as well as previous senior positions with Andersen and Mandarin Oriental Hotel Group in Asia, will prove invaluable. With his more than 10 years experience in hotel advisory and banking, we`re looking forward to rapidly expanding our operations under Andreas`s leadership, said Mr Hetherington.

Additionally and in response to Asia`s buoyant hotel investment market and positive hotel trading conditions, Jones Lang LaSalle Hotels is also pleased to announce a new appointment in its Singapore office. With almost US$800 million worth of hotel instructions currently being undertaken throughout Asia, the firm has been looking to expand its team in recent months.

Mr Tom Oakden is relocating from Jones Lang LaSalle Hotels` London office to join the Investment Sales team in Singapore. Tom has been actively involved in a broad range of sales assignments in both the UK and continental Europe and has also undertaken a number of hotel development assignments throughout that region, said Mr Hetherington. He added, Tom`s appointment adds a great deal of depth to our firm`s well recognised brokerage team in Asia and he also brings with him a wealth of contacts in Europe.

Current hotel investment activity in Asia has been focussed towards divesting non-core hotel assets from company balance sheets. Jones Lang LaSalle Hotels is currently marketing a number of single hotel assets in China, Thailand and Japan. During 2005, total hotel transactions in Asia amounts to approximately US$2.6 billion, including the sale of Raffles Holdings for US$1.01 billion, said Mr Hetherington. He added, We expect investment activity to remain strong throughout 2006.

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