hotel transactions
Hotel Investment in the Alps Heats Up
JLL | March 26, 2024
Climate change is driving record transaction levels in high-altitude, luxury hotels Long famed for its ski resorts, mountain towns in the French Alps have recently seen an uplift in investor interest. The Savoie and Haute-Savoie regions alone have seen hotel transaction volumes double over the past two years, breaking records with more than €800 million ($875 million) of hotel deals closed, JLL data shows. “Due to the warming climate, and limited new supply of ski resorts, more snow-sure locations at higher altitudes are commanding premium values,” says Matthieu Subit, JLL’s Vice President of Hotels and Hospitality for EMEA Cap...
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...
Q4 2023 Major U.S. Hotel Sales Survey
Daniel Lesser | February 7, 2024
At the dawn of 2024, a U.S. presidential election looms amidst numerous geopolitical challenges including two major ongoing wars in Europe and the Middle East which threaten global economic growth. The good news is, thus far it appears the U.S. economy has avoided recession with many now perceiving continued growth, albeit subdued. Inflation has cooled, the economy continues to add jobs, interest rates appear to have peaked and are anticipated to gradually decline for the next two years. Furthermore, a roaring stock market continues to fuel American consumer expenditures resulting in strong demand for travel including lodging. Despite a re...
Sacramento Growth Continues
Brandon Conner | December 11, 2023
By Brandon Conner, John Berean Situated between Sacramento’s Central Business District and River District, the 244-acre Sacramento Railyards is one of the nation’s largest urban infill projects and will nearly double the size of Downtown Sacramento upon completion. In August 2020, LDK Ventures broke ground on The A.J., a 345-unit residential complex and the first project within the Sacramento Railyards. The development is expected to feature 10,000 residential units, 1,100 hotel units, and several million square feet of office space. Other major projects within the Railyards may include an 18-acre Kaiser Permanente medical center ...
Boston/Cambridge Lodging Market – Outlook Is for Positive Growth for 2024
Rachel J. Roginsky | November 15, 2023
By Rachel Roginsky After spending the last 32 years tracking and analyzing the Boston/Cambridge (“the City”) lodging market, Pinnacle Advisory Group (“Pinnacle”) is quite comfortable forecasting top line (occupancy and ADR) revenue for the City. But projecting the future with precision can be complicated. Here’s our perspective on the City’s lodging market for 2024: • Convention and Group Demand – This segment of demand comprises approximately 23% of total demand in the City. According to Signature Boston, the Boston Convention and Exhibition Center will generate approximately 500,000 room nights in 2024, which will be a...
When the Pendulum Stops Swinging
H. Keith Thompson | November 10, 2023
By H. Keith Thompson I have been a hotel broker for 33 years and during all past cycles, the markets would simply swing from being either a seller’s market or a buyer’s market and then after a correction, swings back again. Using a swinging pendulum as a metaphor for the hotel real estate market today, the pendulum has almost stopped swinging. In my history as a hotel broker, the only time the pendulum almost stopped swinging was just after 911 and this new interest rate cycle we all find ourselves in today. In 2023, new transactions in the hotel space are down 50-70 percent depending on the brand and the market. Today it is neither...
Q3 2023 Major U.S. Hotel Sales Survey
Daniel Lesser | October 26, 2023
By Daniel Lesser Notwithstanding a persistent jittery economic environment and rising global geopolitical concerns, market conditions in the U.S. appear simultaneously shaky and resilient. National lodging sector metrics, particularly average room rates and RevPAR, continue to achieve exceptional results as demand for travel and lodging remains robust. Although overall leisure patronage is trailing off from pandemic highs, due in part to Americans opting for international travel, domestic corporate individual and group meeting business continues to rebound to pre Covid-19 levels. Additionally, inbound international travel to the U.S. conti...
What’s Whetting Investors’ Appetite for Hotels?
JLL | July 31, 2023
Recent hotel deals in Asia Pacific reflect uptick in travel and macro-economic confidence A string of marquee hotel sales across Asia Pacific are raising hopes of a rebound in investor appetite. After macroeconomic challenges and rising debt costs battered deal activity in the first half of 2023, July saw a series of major deals, including Singapore’s largest-ever single-asset hotel sale. Singapore property developer UOL Group sold the 542-room PARKROYAL Kitchener Road hotel to Midtown Properties, a unit of Worldwide Hotels Group, in a deal worth S$525 million ($388 million). This was quickly followed a week later by the first h...
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