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 •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.