keith thompson
Avison Young’s Hotel Auction Team
Avison Young | April 28, 2022
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 a...
Avison Young Hospitality Group- December 2021 Sales
Avison Young | January 4, 2022
ATLANTA – January 4, 2022 – Avison Young announced today it closed 15 hotel transactions totaling $264 million for the month of December 2021. $183 million of the transaction volume was big box urban core or Hilton and Marriott assets with geographic locations from Colorado to New York down through Pennsylvania, Virginia, and the Carolinas. The brokers involved in the closings were Brad Sinclair, Andy Broad, Michael Bernath, Chris Stark, Chris Kilcullen, Wendy Blissett, Mike George, Rick George, Thierry Roch and Niven Patel. Keith Thompson said, “These closings represent a continued investment trend in hospitality real estate that...
Avison Young Hospitality Group Closes Marriott Sales
Avison Young | August 18, 2021
ATLANTA – August 18, 2021 – Avison Young announced today it has successfully closed the sale on four Marriott Courtyards and five Springhill Suites. The properties were located from the pacific northwest, Midwest, and eastern seaboard states. The brokers involved in the closings were Brad Sinclair, Andy Broad and Michael Bernath. Keith Thompson said, "These closings represent a continued investment trend into hospitality and the hotels ranged from cash flowing assets to closed hotels all with large required pips. Most importantly they were all priced on 2019 performance levels."...
Avison Young 2021 Transactions
Avison Young | July 27, 2021
ATLANTA – July 28, 2021 – Avison Young Hospitality Group announced that the firm closed its 50th hotel transaction for 2021. Of the 50 closings, 29 were Hilton and or Marriott branded assets and the remaining transactions were among other brand families. Geographically, the hotels were located from the Pacific Northwest, California, across the Midwest and along Eastern seaboard states ending with Connecticut Keith Thompson said, “The closings represent broad segment diversity from upper upscale, midscale to economy and even a couple of independent hotels. It was good to see corporate-driven hotels transacting at a more brisk pace tha...
Avison Young 2021 Transactions
Avison Young | May 19, 2021
ATLANTA – May 19, 2021 – Avison Young Hospitality Group announced today that the firm has closed its 22nd hotel transaction of the 2021 year. The closed hotel transactions were across many brand families and located from California through the midwest and eastern seaboard states. Included in the sales were extended stay, upscale, full service, select service, and limited-service hotels. Of most notable was an eastern seaboard Marriott portfolio transaction led by Avison Young brokers, Mike George and Andrew Broad. Additionally, Brad Sinclair, Michael Bernath, Thierry Roch, and Wendy Blissett have all closed multiple transactions thus...
Avison Young 2021 Transactions
Avison Young | March 25, 2021
ATLANTA – March 25, 2021 – Avison Young Hospitality Group announced today that the firm has just closed its 14th hotel transaction of the 2021 year. The closed hotel transactions were across many brand families and located from California through the Midwest and eastern seaboard states. Most of the assets were in the mid-market to upper mid-market tiers. Keith Thompson said, “We are beginning to see transactions close at the best rate since the start of COVID and it is our expectation that 2021 will be a much stronger investment cycle than the second half of 2020.”...
Avison Young Closes Hotel Loan Portfolio
Avison Young | March 25, 2021
ATLANTA – March 25, 2021 – Avison Young Hospitality Group announced today that the firm has closed on a hotel loan portfolio led by Avison Young principal, Andrew Broad. The portfolio consisted of multiple hotel loans in the Carolinas secured by upper midscale Marriott branded hotels. Andrew Broad, Principal said, “This portfolio loan sale represents what could be the next transaction market cycle. MCR Development was the purchaser of the portfolio and we have deep history with them. In the 2021 hotel transaction market, the greatest character traits a buyer can have is, credibility, capability, and the willingness to do what they sa...
Things We Didn’t See Coming
H. Keith Thompson | March 2, 2021
By H. Keith Thompson The past year has been great for a few hotel segments and very difficult for many others. I have personally been through many cycles and this past year has been like no other. A shift has occurred that many people didn’t see coming and most certainly, I didn’t see coming. Given this, I thought I would list a few changes that have come out of the past year. - Old exterior corridor hotels are back in vogue. By their original construction design, they have built in social distancing. - The great relocation. Mass exodus from urban core centers. - Most all demand generators from 2019 have changed significantly and ma...
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