Number of Hotel Transactions on the Rise
Tuesday December 4th, 2012 - 8:48AM H
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NEW YORK—The LW Hospitality Advisors Q3 2012 Major U.S. Hotel Sales Survey includes 28 single asset sale transactions over $10 million each, compared to 21 sales in the same period last year.
In Q3 2012, the 28 transactions totaled roughly $1.7 billion and included approximately 7,500 rooms with an average sale price per room of approximately $233,000. By comparison, the 21 transactions in Q3 2011 totaled about $800 million and included 4,500 rooms with an average sale price per room of $180,000.
According to Daniel Lesser, president & CEO of LW Hospitality Advisors, LLC, Q3 2012 transactions included two blockbuster trades. One was the $400 million sale of the Grand Hyatt in Washington, DC. The second was the $362 million transaction of the Essex House in New York.
To view the survey, please click on the link below.
Tags: • Hospitality • Ownership •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.