NEW YORK CITY—If you haven't already noticed, 2014 is—and willcontinue to be—a red-hot year for Manhattan hotels. That's amongthe findings in a new report from JLL, which also forecasts healthydemand but overall slow revenue growth. For 2013, the report founda dip in the number of trades made but saw an overall increase inthe size of those transactions.

“Investment volume is expected to increase to $2.7 to $2.8billion in 2014—significantly above 2013 levels—due to continuedliquidity among Manhattan hotels as well as the increase inavailable product. Hotel demand is at an all-time high; however,RevPAR growth will be more tepid this year due to 6,400 additionalrooms slated to enter the market.”

Continuing to look ahead, the report says, “Over 6,400 hotelrooms will be added to the Manhattan market in 2014, increasing themarket's room inventory by 8%. With close to 15,000 rooms slated toenter the market between 2014 and 2016, Manhattan has more roomunder construction than any other US city.”