ATLANTA – April 28, 2022 – Avison Young announced today that Brad Sinclair and Michael Bernath lead Avison Young’s hotel auction team. Over the past 10 months, the team has closed 8 hotels on the Ten-X Auction platform at an average sale of 23% over the reserve pricing. The latest hotel auction ended last week, ultimately selling for 74% over reserve. Avison Young has closed over 80 transactions through the Ten-X platform. Examples of recent closing include the Homewood Suites Lansdale PA, Hilton Garden Inn Cranberry PA, the Springhill Suites Albany/Colonie, NY and the Hampton Inn Omaha, NE.
Brad Sinclair said: Our consistent and accurate communication process works well with the Ten-X platform. It arms sellers with advanced understanding of the buyer pool, potential issues, and strategies to prevent last-second chaos on auction day. For the buyers, it is vital for creating the confidence needed to aggressively bid.
Michael Bernath said: We take a holistic approach to every hotel that we list. We utilize our entire platform’s deep industry knowledge and relationships to assure that we drive as many competitive and capable buyers to each auction we work. Our significant experience on the auction platform has allowed us to navigate potential pitfalls during the process and put in place proper strategies on auction day that assure maximum pricing and certainty of close for our clients.