NEWPORT NEWS, VA—Brokerage firm Mumford Company revealed that, in 2014, it closed 37 transactions in 17 states.
In addition, the company noted that its total value of hotels sold during the year was the highest since the previous high seen in 2007. Mumford also bolstered its staff by naming Andrew Smith as sales associate and adding Carl Maxwell as an analyst. Staff growth is expected to continue into 2015.
“In 2015, we will see a continuation of the solid improvement in property level operating results realized in the last few years. Occupancy, ADR and RevPAR growth continue on a relatively consistent path as industry fundamentals remain strong and new supply additions remain modest,” stated Mumford principal Ed James.