Mainland Chinese tourists are powering the hotel industry in the Maldives. Photo: SCMP

Hotel investments in Asia triple in value in 2013

Hotel investments in Asia soared 218 per cent last year from 2012 to US$7.5 billion, defying industry expectations, figures from property firm JLL show. This made 2013 the strongest year since 2007, when the volume of transactions reached US$10.3 billion.