in Hotel Real Estate Transactions in 2004
|Los Angeles, California – January 19, 2005 – Evidence that 2004 was
a banner year for hotel real estate transactions continues to mount. Robert
Koger, President of Molinaro Koger (MK), one of the world’s leading hotel
real estate brokerage companies, announced today at the America’s Lodging
Investment Summit (ALIS) that MK closed a record $1.3 billion in hotel
real estate transactions in 2004.
“In our 45 year history of handling hotel real estate, 2004 has been the most active transactional year,” said Mr. Koger. “Prices for hotel assets climbed precipitously in 2004 as buyers bid to acquire first class assets in rebounding urban and resort markets.”
With overall hotel industry profits predicted to reach nearly $21 billion in 2005 according to PricewaterhouseCoopers, savvy ownership groups are striving to tap into the strong upside of the hotel industry.
“Hotel profit growth is phenomenal,” asserted Mr. Koger. “Total profits grew from $12.8 billion in 2003 to an estimated $16.6 in 2004. The jumps expected in 2005 and 2006, barring unforeseen circumstances, are significant. Those who purchase and manage hotel properties seek to take full advantage of this historic opportunity.
“As a result of these market conditions and our depth of investment contacts, brokers at our eight offices were able to assist MK’s clients in the profitable disposition of 75 properties in 2004,” said Mr. Koger.
A selection of hotel transactions structured by MK in 2004 include:
About Molinaro Koger
Molinaro Koger is an international hotel real estate advisory firm. The company structures hotel transactions in the boutique through luxury segment in the Americas and Europe. MK is headquartered in metro-Washington, DC, and has offices in London, Atlanta, Chicago, Cincinnati, Dallas, Los Angeles and Phoenix. Over the past decade the firm has captured the industry’s leading hotel transaction awards including Highest Volume, Largest Transaction and Salesman of the Year.
Joseph Molinaro founded the firm in 1959. Since then, Molinaro Koger has successfully marketed hotel real estate, sponsored limited partnerships, and arranged financing for purchasers. Given the cyclical nature of real estate, the firm has weathered an array of highs and lows during the course of its 45-year history. Throughout that time, the company has grown and assisted clients in achieving their investment goals.
“With each lodging real estate cycle we gather strength, expertise and contacts enabling us to better serve our clients best interests regardless of economic highs or lows,” says President Robert Koger. “The results we achieve are directly attributable to the commitment and expertise of our professional staff.”
Molinaro Koger can be accessed online at www.mkhotels.com.
|Also See:||Molinaro Koger Structures Sale of Marriott Suites Hotel Bethesda / December 2004|
|Molinaro Koger Arranges Sale of the Renaissance Jamaica Grande Beach Resort / December 2004|
|Hospitality Financier Edward Blum Joins Molinaro Koger / December 2004|
|FelCor Sells North Dallas Crowne Plaza Hotel, Advised by Molinaro Koger / October 2004|
|Bill Murney Joins Molinaro Koger, Opens Firm’s Phoenix Office as Managing Director / October 2004|
|Molinaro Koger Advises FelCor on the Sale of the Harvey Hotel DFW / October 2004|
|Molinaro Koger Structures Sale of Hyatt Hotel Orange County / October 2004|
|Molinaro Koger Structures Sale of Renaissance Hotel Ft. Lauderdale / September 2004|
|Molinaro Koger Structures Sale of Radission Hotel Mt. Laurel on behalf of Boykin Lodging Company / September 2004|
|Molinaro Koger Advises William Street Hotel Associates LLC on Sale of Doubletree Hotel Chicago O’Hare Airport / August 2004|
|Molinaro Koger Advises on the Sale of the Beaver Creek Lodge / August 2004|
|Molinaro Koger Arranges Sale of Crystal City Marriott Hotel / July 2004|
|Molinaro Koger Facilitates Sale of Sheraton Bucks County Hotel to Ashford Hospitality Trust / July 2004|
|Molinaro Koger Structures Sale of Sheraton Hotel Washington, DC / June 2004|
|Molinaro Koger Advises in the Sale of Miami Beach Ritz Plaza Hotel — Kimpton to Rebrand and Manage / June 2004|
|Molinaro Koger Structures Sale of Hilton Hotel Pasadena, California / May 2004|
|Molinaro Koger Closes Holiday Inn East Columbus on Behalf of B.F. Saul Company / April 2004|
|Molinaro Koger Structures Sale of Radisson Hotel Charleston / April 2004|
|Molinaro Koger Closes 82 Transactions in 2003 / January 2004|
|Thompson Calhoun Fair and Molinaro Koger Brokers Sale of 15 - Hotel Portfolio / December 2003|
|Molinaro Koger Closes Sale of Renaissance Hotel St. Thomas to Palace Resorts of Cancun, Mexico / November 2003|
|Molinaro Koger Closes Four Full-Service Hotels / November 2003|
|Molinaro Koger Closes 46 Transactions Through Third Quarter 2003 / October 2003|
|Molinaro Koger Selected to Market 7-Property Holiday Inn Portfolio on Behalf of FelCor / May 2003|
|Simon Allison, Former Finance Director of Hospitality Europe BV, Named Vice President, Molinaro Koger / April 2003|
|Molinaro Koger Opens Atlanta Office / Oct 2002|
|Hotel Acquisitions Continue In Tight Market Molinaro Koger Announces 39 To Date Closings / Oct 2002|
|Molinaro Koger Opens Atlanta Office / Oct 2002|