US hotels reach new dealing record
US hotel transaction volume grew to more than $21 billion last year for a new all-time high, outpacing the previous year’s record-breaking $12.9 billion by 63%.
Jones Lang LaSalle Hotels reported 218 US hotel transactions with a value of more than $10 million.
Arthur Adler, managing director and CEO-Americas for LaSalle, said:
“The appeal of hotels as an asset class and subsequent strength in capital market activity is due to a combination of factors.”
These included strong industry fundamentals, controlled levels of new supply and an optimistic outlook for the lodging industry, among other factors.
“In addition, the number and diversity of buyers, including off-shore investors and an increasing interest by owners to bring properties to market has spurred activity,” he said.
Topping the list of biggest sellers last year were The Blackstone Group, CNL Hotels and Resorts, InterContinental Hotels Group, Hilton Hotels Corporation and Starwood Hotels and Resorts.
Eight of the top ten single-asset hotel transactions last year exceeded $250 million.
Report by David Wilkening
David
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