hotel sales

Hotel Sales RFP’s Circa 2020: How to Be the Best, Not Just the First to Respond

Doug Kennedy | November 8, 2019

By Doug Kennedy When I speak with hotel sales leaders at my training workshops and conference presentations, and when I read interviews with them in hotel trade publications such as this one, it seems that most are buying-in to these three myths about hotel sales in the current era: The most important factor in closing more leads is to be the first to respond. The second key to success is having the coolest PDF or online brochure, with more pictures than everyone else. Planners who send digital inquiries do not want to talk or correspond; they only want to get the proposal they asked for. Let’s tackle these mistaken beliefs...

Avison Young Announces Recent 2019 Closings

Avison Young | August 21, 2019

ATLANTA – August 21, 2019 – Avison Young Hospitality Group announced that the firm recently closed seven hotel transactions ranging from a full service Marriott hotel to select service properties located from California to Vermont. Additionally, the firm expects to close six transactions over the next five weeks and 25 transactions throughout the 3rd and 4th quarter of 2019....

Avison Young Announces Recent Closings

Avison Young | June 27, 2019

ATLANTA – June 27, 2019 – Avison Young Hospitality Group announced that over the last several weeks the firm has closed a Marriott hotel in Pennsylvania, a select service hotel in DC and a resort hotel with golf in the northeast. The firm has 28 hotels under sale agreement with closings scheduled over the coming months and has closed 392 hotels since 2013....

Hotel Sales Negotiating Training, Circa 2020

Doug Kennedy | June 24, 2019

By Doug Kennedy As a conference speaker and trainer, I am finding that one of my most requested topics lately is hotel sales negotiating techniques. Based on the initial inquiries received, I get the impression that many hotel leaders still view negotiating as being a separate part of the selling process such as it was originally taught in 1990’s era training. These days, successful negotiating starts from how one handles leads at their “intake point,” which is important in order to maximize effectiveness further along in the sales engagement. First, let’s look at where in the sales process negotiating is taking place in the era...

Avison Young Announces Recent Closings

Avison Young | May 30, 2019

ATLANTA – May 30, 2019 – Avison Young Hospitality Group announced that with several closings over the last three weeks the firm has closed one hotel a week since January 2019 totaling $355,000,000 year to date in asset value. Additionally the firm has $401,000,000 under sale agreement with closings scheduled over the summer. Since 2013, the Avison Young Hospitality Group has closed 106 Marriott branded hotels, 72 Hilton branded assets, 50 IHG branded assets and 163 historic, upscale boutique, resort and other branded hotels. ...

Avison Young Announces Portfolio Sale in San Francisco

Avison Young | April 17, 2019

ATLANTA – April 17, 2019 – Avison Young Hospitality Group announced the firm closed a four-property hotel portfolio in downtown San Francisco. The portfolio contained 418 rooms and consisted of the following properties; Hotel Vertigo, Good Hotel, Americania Hotel and the Carriage Inn. The transaction closed on Monday April 8th. Avison Young represented Haiyi Hotels as the seller and the buyer was Oxford Capital Group LLC. This transaction represents the 6th closing Avison Young has completed in San Francisco within the last two months and the firm's 15th closing for 2019. Chris Stark, a Principal with the Avison Young Hospit...

Many Hotel Sellers Won Big in 2018

Rodney G. Clough | January 21, 2019

By Rodney G. Clough On average, hotel prices increased significantly in 2018, as a strong pool of buyers with favorable outlooks kept downward pressure on cap rates. A strong bidding environment for hotels, particularly those in markets where barriers to entry were high and PIPs had already been completed, kept prices strong, resulting in some big wins for hotel sellers that purchased their hotels at the right time during the last downturn. We queried our database for hotels that were sold between $10 million and $20 million during 2018, and then we compared their prior sales price to the most recent one. For those hotels that were sold...

Hotel Cap Rates Hold Steady - Values Under Pressure

Suzanne R. Mellen | January 17, 2019

By Suzanne R. Mellen Following a year of robust transaction activity, hotel capitalization rates remain stable, while hotel NOI and values are under pressure due to slowing RevPAR growth and increasing operating expenses. This article looks at hotel sales and capitalization rate trends, the impact of slowing RevPAR growth on hotel values, and the outlook for 2019. [1] With a more business-friendly administration in place and the passage of the Tax Cut and Job Act (TCJA) in December 2017, the outlook for the economy and hotel performance became brighter in 2018. Hotels generate higher returns than other commercial real estate and reflect...