Wednesday February 5th, 2014 - 9:35AM
PORTSMOUTH, NH—Lodging Econometrics just revealed that the lodging industry reached an estimated total investment of $21.8 billion in 2013, which represents its highest level since 2009. In addition, the number is expected to accelerate higher in 2014 and into the latter part of the decade as well.
The company, based here, just released its Winter 2014 U.S. Transaction Trends Executive Summary. The report also noted that in 2013, 1,171 hotels were sold or transferred, a decrease of 19 percent versus last year. Of the 1,171 transfers, 775 were individual single asset transactions, which increased 18 percent versus last year. Another 395 were portfolio transactions, which decreased49% year over year.
For hotel transactions with a reported selling price, activity totaled $16.8 billion in 2013. Privately Held Equity Funds and Hotel Companies accounted for 62% of sell side activity with a combined $10.4 billion.