Table 2

Major non-listed hotel investment fund managers: Asia–Pacific portfolio: 2023

Hotel investment managerHotel AUM (US$)Hotel component of real estate portfolio (%)
CapitaLand$29.8 B86.1
Gaw$2.3 B60.0
IGIS$1.3 B86.7
ESR$1.0 B52.9
BGO$0.8 B43.8
Mastern$0.8 B70.0
Brookfield$0.8 B3.6
EQT-Exeter$0.6 B100.0
APG$0.3 B11.1%
AXA$0.3 B7.1%
Source(s): Authors' compilation from IPE (2023a) 

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