GLOBAL HOTEL NETWORK (SM) REPORT: This week`s Market Focus Tokyo, Japan

Scott Hetherington, Executive Vice President, Asia and Tomohiko Sawayanagi, Senior Vice President, Tokyo, together with Jaime Ng, Associate, Asia from Jones Lang LaSalle Hotels report.RESEARCH AND ANALYSIS OF THE TOKYO MARKET SHOWS:
* Recovery Of The Japanese Economy Is Underway Albeit Underpowered In 2000-01.
* International Visitor Arrivals To Tokyo Improve.
* Hotel Supply In Tokyo Show Upward Trend.
* Growth In Hotel Supply Concentrated Within Four To Five Star Segments.
* Tokyo Four To Five Star Hotel Market Showed Highest Room Yields in 1999.
* Five Star Hotels Sustain Room Yields In 2000.
* Competition To Intensify Between Japanese And Foreign Operated Hotels.
* Foreign Investors Continue To View Tokyo Favorably, according to Jones Lang LaSalle Hotels’ Investor Sentiment Survey September 2000.
* Outlook For Trading Performance And Investment Is Expected To Trend Upward.
Jones Lang LaSalle Hotels plans to expand its team in Tokyo in anticipation of more active acquisition and development activities over the medium to long term. A more in-depth market report on Tokyo follows.