News for the Hospitality Executive
Hotel AG Sees Economic Conditions Improving
for Hotel Transactions
ATLANTA – June 2, 2010 – Hotel Assets Group, LLC (Hotel AG), announced today they have closed 5 hotel transactions recently and have 96 hotels on the market today located in 29 states across the country. 26 of these engagements are under agreement. The engagements include both single and portfolio transactions and represent limited-service, full-service and extended-stay properties with a combined total of more than 11,000 rooms.
Keith Thompson, principal of Hotel AG remarked, “The number of hotels under agreement today represents a much larger percentage than at this point last year. Hotel closings are becoming more frequent due to the number of distressed assets on the market and the availability of buyers with the cash to buy them.”
Hotel AG’s exclusive engagements represent the majority of brands including Marriott, Hilton, Choice, Wyndham and IHG. The properties are located in urban, primary, secondary and tertiary markets throughout the United States.