ATLANTA – February 2, 2023 – Avison Young Hospitality Group announced that with the closings this week, the hotel brokerage firm has closed 595 hotel transactions over the last ten years. The brand mix was 149 Marriott, 114 Hilton, 67 IHG and Hyatt, 102 Choice and Wyndham and 163 other brands, boutiques, and independents. Geographically, 64 of the closings were in the Northwest, 89 in the Northeast, 91 in the Northcentral, 66 in the Southcentral and 285 in the Southeast.
Brad Sinclair said, “clearly with recent interest rate hikes, the last several months have tested the resolve of hotel owners, developers, lenders, investors, and brokers. Avison Young operates in all commercial segments, office, retail, multifamily, industrial etc. but the hotel segment is the only CRE that can adjust rates daily to counter short-term and long-term inflation and cycles. That’s why today, hotel real estate is the new darling of the commercial investment industry.”