Jones Lang LaSalle Hotels is expanding its operations in China with a new Shanghai office and an enlarged team.
The new team will include Glenn Bechtel, senior vice president, and Michelle Li, analyst.
Both will join Clinton Wu, vice president, who has been with the firm since it started its operations in China.
The team will report to the current head of Jones Lang LaSalle Hotels in China, Andreas Flaig, Executive Vice President, who is based in Beijing.
Bechtel’s primary role will be investment sales in China although as a qualified valuer, he has more than 25 years of experience in the sales and marketing of various real estate asset classes including hotels, resorts as well as retail and commercial assets.
Since the establishment of its first China office in Beijing in early 2005 with only three staff, JLL Hotels has been steadily building its track record in the market.
By October 2006, the number of staff has tripled to a team of nine hotel professionals. Over the past 12 months, the firm has successfully completed three hotel transactions in Beijing, Shanghai and Tianjin.
JLL Hotels’ global chief executive Arthur de Haast said the opening of the Shanghai office and team expansion is a natural evolution in response to the tremendous growth and abundant opportunities across China.
“China is shaping up to be the largest and most important hotel market in Asia and we are confident that we have a strong team in place to take the Firm to the next level of growth.” he added.
“China’s phenomenal economic growth has catapulted its hotel real estate market onto every hotel investor’s radar screen worldwide. While transaction volume has been light relative to the more matured markets thus far, there are tremendous opportunities throughout the country from the gateway cities of Beijing and Shanghai to the second tier destinations Hainan and Hangzhou. Hotel owners would want to capitalise on the growth momentum in the market and take advantage of the pent-up interests from offshore investors and the strong trading environment,” Bechtel said.
By Nelson Yap
