CHICAGO, IL — November 15, 2021 — Paramount Lodging Advisors (PLA) is pleased to announce a new milestone in hotel real estate transactions. PLA has surpassed $1 Billion in hotel and hotel note auctions. PLA has overseen more than 300 auctions and maintains a 95% closure rate. These statistics place Paramount Lodging Advisors as the most active and successful hotel broker on hotel auction platforms in the United States.
Throughout the COVID pandemic period alone – the PLA team has overseen nearly 40 hotel and hotel note auctions culminating in transactions over $200MM in asset value. The PLA closure rate on hotel auction platforms has been nearly 98% over the past 18 months. The team currently has 14 additional hotel assets scheduled to be auctioned by year-end.
“Our team is thrilled to be able to have hit this milestone and to continue to offer an unprecedented closure rate for our institutional clients, lenders, and servicers. We place tremendous value on our partnerships with the auction platforms and look forward to continued success together in the years to come,” noted Senior Managing Director Bennett Webster.