Tuesday December 17th, 2013 - 11:48AM
ATLANTA—Hunter Hotel Advisors completed 51 closings with total transaction value exceeding $500 million in 2013. The company averaged one closing per week, fueled by record performance in the fourth quarter with 15 closings valued at more than $150 million.
“The rebounding economy, continued strong lodging market fundamentals and the availability of equity and debt allowed us to maximize performance,” stated Teague Hunter, president of Hunter Hotel Advisors. “For the first time in years, both Wall Street and Main Street were willing to transact. Larger companies continued to focus on key urban markets, which left some excellent full- and select-service assets available in secondary and tertiary markets.”
This past year, Hunter represented clients ranging from REITs and large private equity funds to regional investment groups. Most of the firm’s listings were in the premium-branded full- and select-service sector of the hotel market. Hunter’s regional offices including Los Angeles, Washington, D.C., New York, Atlanta, Phoenix, Jacksonville and Miami enjoyed a record number of closings with hotel sales being recorded in over 30 states.
Hunter predicts that the number of transactions will continue to accelerate in 2014.
“We are optimistic that the continued low interest rate environment and the narrowing bid-ask spread will make 2014 a very active year,” stated Hunter. “To continue providing exceptional service to our clients, Hunter is expanding our team by 20% in 2014. Along with the Capital Markets platform we added in 2012, these additional resources will allow us stay at the forefront of this fast-paced hotel real estate market.”