A new report by real estate company Jones Lang LaSalle - Hotel Investment Outlook 2014 - A new era - predicts that global hotel transaction volumes will rise by 5-10 pct to about US$50bn (£30.7bn, €36.9bn) in 2014, with the year characterised by continuing investor confidence and a market flush with capital.

The Americas are expected to drive the increase with a 15 per cent jump in transactions to US$27bn (£16.5bn, €19.9bn), led by private equity buyers and with Middle Eastern and Asian investors seen as targeting the US.

The outlook for EMEA remains positive, with hotel investment volumes forecast to reach US$16bn (£10bn, €11.8bn) and Africa emerging as a growth market for hotel investment.

Asia Pacific is likely to see some softening after its second highest year on record - up 160 pct in 2013 to US$9.5bn (£6bn, €7bn) - since there will be fewer landmark deals, although it is anticipated that there will be an increase in small asset sales for 2014. Australia, Japan and Thailand are seen as likely to attract the most investor attention.

The report also observes that, as the economy strengthens and leisure travel picks up, resort transactions in addition to gateway markets could show momentum, with Mexico - in particular Cancun, Los Cabos and Mexico City itself - indicating signs of strong performance.