JLL Hotels exec sees 'perfect recipe' for increased hotel transactions beginning later this year

n May, Trinity Investments sold the JW Marriott Phoenix Desert Ridge Resort & Spa to real estate investment trust Ryman Hospitality Properties for $865 million. (CoStar)

Americas CEO Kevin Davis predicts 'a substantial pickup' in deal activity in 2026

When Kevin Davis, Americas CEO at JLL Hotels & Hospitality, looks into his crystal ball — powered by the recently released U.S. Hotel Investment Trends report — he sees hotel transaction activity increasing in the coming months.

"I do think that you could see a pickup in transaction volume in the second half of the year, but I can almost certainly guarantee that there will be a substantial pickup in 2026 relative to 2025," Davis said, pointing to an increase in bid activity.

The bid-ask spread is narrowing — with concessions being made by both buyers and sellers — and there's a buildup of deals in the pipeline expected to close in the second half of this year, Davis said.

"As I look into my crystal ball, that's what I see. And I think there are a couple of reasons for this dynamic," he added.

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