Tuesday December 4th, 2012 - 8:48AM
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.