News for the Hospitality Executive |
ATLANTA,
January 18, 2012—Officials at Hunter Realty, a
leading national hotel investment advisory services firm, today
announced that
the firm brokered the sale of a record 54 hotels in 2011. During the year, the firm also completed
over 400 broker
opinion of value reports totaling $4 billion for special servicers,
lenders and
owners. “2011 was a banner year, and there is every indication
that 2012
also will be even better for both our firm and the hotel real estate
industry,”
said Teague Hunter, president. “Our business mix this year
included a
sizable number of complicated transactions, such as multi-use
transactions and
brand changes. In today’s challenging real estate marketplace,
brokers
play a pivotal role in working with both troubled and conventional
properties,
structuring a win-win transaction for buyer and seller, locating
financing and
helping the buyer obtain the right brand.” Hunter noted that as the market continues
to firm up,
they expect to see a larger number of conventional hotels coming to
market. “About 75 percent of sales in 2011 were distressed, but
that
should begin to move to a 50-50 ratio, distressed versus conventional,
in
2012. It appears banks and special servicers have concluded that
the
‘delay and pray’ period is over.” He added that the firm also expects to
see a lot more
full-service hotels coming to market next year, a trend that began in
the
summer and has been accelerating. “Financing for larger
transactions is
loosening up. Hilton and Marriott are the most sought-after
brands, while
interest in Hyatt and IHG brands are increasing rapidly. IHG
properties
are attracting more attention, especially now as they ratchet up the
quality
for their Crowne Plaza brand, similar to the impact of the successful
upgrade of
the Holiday Inn brand.” Earlier in the year, the firm opened a
full-service
office in New York to expand its reach to the nation’s most important
hotel
real estate/financial marketplace, bringing to six the number of Hunter
offices
in the U.S. “We polled our offices and found that the areas
of
greatest buyer interest are the West Coast and Northeast regions, where values have rebounded more
quickly than the rest of
the country. We are looking for opportunities to further build a
national
presence, and we expect to open additional offices in 2012 as the
market
continues to improve.” Hunter Realty, an award-winning firm founded in 1978, has offices in Atlanta, Dallas, Los Angeles, Miami, New York and Washington, D.C. Hunter’s exclusive focus is on hotel investment advisory services. Additional information, including current listings, is available at the company’s website, www.HunterHotels.net, or by contacting the Atlanta office at 770-916-0300. |
Contact: Jerry Daly or Carol McCune (media) (703) 435-6293 |
Also See: |
Hunter
Realty Completes Sale of Hotel Indigo Nashville; Brokered by Teague
Hunter, President, and Brown Kessler, EVP and Former IHG Exec /
November 2011 |