Commercial real estate services firm Jones Lang LaSalle (JLL) reported record revenue for 2011, propelled by 45 percent year-over-year growth in capital markets and hotels activity, 28 percent growth in project and development services and 17 percent growth in both leasing transactions and advisory services.

Overall, JLL’s consolidated revenue for the year grew 23 percent, to $3.6 billion. Adjusted net income grew 29 percent to $215 million.

At the same time, operating expenses rose 23 percent, due to higher compensation tied to improved transaction revenue and costs associated with company growth. Restructuring and acquisition charges were not included in the operating expense figure.

“Our strong finish to the year closed out a solid 2011 performance of record revenue and robust profit growth coupled with significantly strengthened market positions across the firm,” said JLL President and CEO Colin Dyer in a statement. “These results and the strategic actions we took during the year position us for continued growth and success in 2012.”

In the wake of the news yesterday, the price of JLL’s stock rose 5 percent, to $81.24 per share.

The company’s operations in Europe, Middle East and Africa (EMEA) showed the strongest growth, with revenue rising 34 percent, to $974 million, or 29 percent in local currency.

Americas region posted a strong performance as well, with revenue growth of 21 percent, to $264 million, for the full year 2011. Capital markets and hotels segment posted an especially strong increase, at 62 percent, followed by property and facility management, at 24 percent, and leasing, at 19 percent.

Revenue from project and development services in the Americas grew at a less robust pace, with an increase of 12 percent, and revenue from advisory and consulting services grew just 2 percent.

In Asia Pacific, JLL’s revenue for 2011 grew 20 percent, to $816 million, or 14 percent in local currency. The firm experienced significant expansion in China and India during the year, as well as an increase in demand for its property and facility management services. In contrast to EMEA and the Americas, capital markets and hotels posted the slowest growth of all service segments in Asia Pacific, at 7 percent.

On the other hand, revenue from project and development services grew 23 percent, revenue from leasing grew 16 percent and revenue from property and facility management grew 13 percent.