ATLANTA - May 27, 2014 - Hotel Assets Group, LLC (Hotel AG), announced today the firm continues its momentum in closing hotel transactions.
"Hotel AG continues a rapid pace in hotel transaction closings. The firm has closed more transactions this year to date than in 2013, and over the past 12 months the firm has been involved in 1 hotel transaction every 3 days. The firm has 49 hotels under sale agreement with closings scheduled for this summer," stated H. Keith Thompson, principal of the firm.
"We see off the chart strong demand in the hotel real estate investing, but we think the selling window is beginning to close. I told a client two weeks ago to imagine he knew with certainty that the next down cycle would begin 1st quarter 2015 and to list the changes we would make in his real estate holdings. I then told him that the list he just made was exactly what he should start doing today. The client was shocked, but also resolved to not get caught in the next cycle and be prepared," further commented Keith Thompson.
A recent transaction example is the closing of the Doubletree Hotel in West Palm Beach, Florida. Tom Huegel, vice president and partner of the firm, commented, "This transaction is a great example of a deal that required an aggressive and nimble buyer that was able to react to the needs of the seller from both a timing and structure standpoint. From the initial due diligence to closing we were able to get it done within a 30-day window which required a lot of coordination between buyer and seller and we were able to make it happen."
About Hotel AG
Hotel AG is a national hotel brokerage firm headquartered in Atlanta, Georgia. The firm has been involved in 1 hotel transaction every 5 days for the past 3.5 years and has sold or advised on 125 hotel transactions over that past 12 months. Today, Hotel AG has around 183 hotels on the market with a market cap value of $2.2 billion. The firm specializes in select service and full service hotels within the US and works with CMBS lenders, whole loan banks, REITs, public companies, investment funds and private investors. The firm has 15 national brokers and 20 partners and can be found online at www.hotelassetsgroup.com.
Contact: Wendy Blissett