hotel real estate
Avison Young Closed 12 Hotel Transactions Over Last 90 Days
Avison Young | March 11, 2024
ATLANTA – March 11, 2024 – Avison Young announces today that the firm has closed 12 hotel transactions over the last 90 days. Four of the sales were Hilton-branded hotels, two were Marriott-branded hotels, and an IHG and other brands made up the balance. Geographically the hotels were located in the following states – IN, KY, PA, CO, VA, AR, MA, GA, and TN. Of special note, Thierry Roch and Rick George closed a sale on a boutique hotel in the Cape Cod area for close to 1m per room and Chris Kilcullen closed the sale for the upscale Ascent on Main in Parker, CO. Chris Stark, Brad Sinclair, Mike George, Thierry Roch and Rick George were t...
Q2 2023 Major U.S. Hotel Sales Survey
Daniel Lesser | July 20, 2023
By Daniel Lesser Defying the expectations of many, the U.S. economy has demonstrated resilience driven in part by a solid employment report with stronger-than-expected wage growth during June, along with continued healthy levels of consumer spending. With this said, the U.S. economy has been slowed by the Federal Reserve’s aggressive drive to tame inflation through a series of interest rate hikes that began early last year. Although trending downward, with inflation remaining above its two percent target, the Federal Reserve is on track to raise interest rates again this month and mull another hike as soon as September. Despite elevate...
Avison Young Closes Last Hilton Hotel in Portfolio Sale
Avison Young | July 19, 2023
ATLANTA – July 19, 2023 – Avison Young announces today that the firm has closed the transaction on the last Hilton hotel in a 10-property portfolio sale. The portfolio were all Hilton and Marriott assets located in Maryland and Pennsylvania and consisted of four Home 2 Suites, two Homewood suites, two Hampton Inns & Suites, one Fairfield Inn and one Tru by Hilton. Brad Sinclair said, “This portfolio sale represents once again, the strength of the Hilton and Marriott brands and consistent yield for investors. Financing today is very challenging, but with the right property type and actual performance, debt is still available.”...
Paramount Lodging Advisors Successfully Transacts in College Station With the Sale of the TownePlace Suites by Marriott
Paramount Lodging Advisors | April 25, 2023
College Station, TX - Paramount Lodging Advisors (PLA) has successfully executed the sale of a Marriott-branded hotel located in College Station near Texas A&M University. Texas-based Sr. Managing Director Kami Burnette and Sr. Associate Mason McDavid, as well as Sr. Managing Directors Bennet Webster and Brent Clemens represented the seller in the transaction. The 94-key, extended-stay hotel was built in 1999 and is located only a mile and a half from Texas’ largest public university. The new owners are excited to begin work on the Marriott property improvement plan where they hope to benefit from refreshed room product in a contin...
Q1 2023 Major U.S. Hotel Sales Survey
Daniel Lesser | April 21, 2023
By Daniel Lesser With continued elevated levels of inflation and interest rates, and fears of an impending economic recession, the U.S. commercial real estate industry continues to find itself in choppy waters. The recent stunning and swift collapse of Silicon Valley Bank (SVB), and subsequent failures of Signature Bank (SB), and Credit Suisse Group AG (CS) has created a perceived credit crunch now rippling across the global financial system. The SVB implosion was caused by a three-year monetary policy that began during the COVID pandemic and included enormous sums of government stimulus and near-zero interest rates resulting in a bloat...
Hotel “Broker” vs. Trusted Advisor
Robert J. Webster | April 4, 2023
By Robert J. Webster When I first started out in hotel brokerage back in the late 1980s, the market was unsophisticated and had not adopted the fiduciary focus that was required to establish trust. Consequently, the term hotel “broker” had mostly a negative perception. Over the course of the past 35 years, for many professionals, “broker” has moved to a role as a trusted advisor for those who passionately make paramount their fiduciary responsibilities. In this article, I would like to distinguish the difference between the negative connotation of “broker” from the role of a trusted advisor. First and foremost, trusted a...
Ray Regan Joins Paramount Lodging Advisors Team
Paramount Lodging Advisors | March 23, 2023
ALBUQUERQUE, NM – The Paramount Lodging Advisors (PLA) team is pleased to announce Ray Regan as their newest Associate. Ray is joining fellow PLA team member, Michael Sheppard in the New Mexico office and will be focusing on the southwestern region of the United States. Ray has a successful background in both individual and portfolio hospitality and commercial transactions in the southwestern market. “I am thrilled to extend the invaluable experience and resources of the Paramount Lodging Advisors platform to the benefit of existing and prospective clients across New Mexico and the broader SW region,” stated Regan. Ray can be c...
Paramount Lodging Advisors Successfully Transacts the Sale of Two Hotels in the Atlanta Market
Paramount Lodging Advisors | March 21, 2023
Carrollton, GA - Paramount Lodging Advisors (PLA) has successfully executed the sale of the Best Western and Hilton branded hotels in Carrollton, GA. Texas-based Senior Managing Director Kami Burnette and Director Omari Head lead the sale of the Best Western in a traditional marketing process. The Hampton Inn Carrollton sale was represented by Omari Head along with Principals Bennett Webster and Brent Clemens. Paramount represented the receiver of the 2003 build, 77 key hotel. “Both properties generated significant interest and positive results for our clients,” stated Omari Head. “This is the second closing in the Atlanta area ...
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