Hotel AG Continues Closing Pace
March 5, 2015 7:46am
A few of the recent closings in 2015 included a full-service resort hotel in Oregon that sold for $143,000 a room, a full-service hotel in historic downtown Savannah that sold for $220,000 a room, a Hyatt Place and Courtyard by Marriott located in the Upper Midwest, and a high-rise full-service beach front hotel located in Daytona Beach. The firm is 250% ahead in closings compared to the same period last year.
Currently, the firm has 29 separate transactions under agreement with closings scheduled within the next several months. Additionally, 3 portfolios were brought to market over the past few weeks.
"The pace of the transaction market today continues to demonstrate the strength and the fundamentals of accretive yield return hospitality real estate," commented H. Keith Thompson, principal of Hotel AG. "We expect 2015 transactions will continue to outpace those of 2014 in both the number of transactions as well as the real estate value represented. New supply and CMBS debt coming to term continue to concern us as to the longevity of this marker cycle. Clearly, we are watching the primary and secondary debt markets very closely."
Tags: hotel assets group,
Contact: Wendy Blissett
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