ATLANTA, GA Jan. 18, 2012—Officials at Hunter Realty, a leading national hotel investment advisory services firm, today announced that the firm brokered the sale of a record 54 hotels in 2011.
During the year, the firm also completed over 400 broker opinion of value reports totaling $4 billion for special servicers, lenders and owners.
“2011 was a banner year, and there is every indication that 2012 also will be even better for both our firm and the hotel real estate industry,” said Teague Hunter (top right photo), president.
“Our business mix this year included a sizable number of complicated transactions, such as multi-use transactions and brand changes. In today’s challenging real estate marketplace, brokers play a pivotal role in working with both troubled and conventional properties, structuring a win-win transaction for buyer and seller, locating financing and helping the buyer obtain the right brand.”
Hunter noted that as the market continues to firm up, they expect to see a larger number of conventional hotels coming to market.
“About 75 percent of sales in 2011 were distressed, but that should begin to move to a 50-50 ratio, distressed versus conventional, in 2012. It appears banks and special servicers have concluded that the ‘delay and pray’ period is over.”
He added that the firm also expects to see a lot more full-service hotels coming to market next year, a trend that began in the summer and has been accelerating.
“Financing for larger transactions is loosening up. Hilton and Marriott are the most sought-after brands, while interest in Hyatt and IHG brands are increasing rapidly. IHG properties are attracting more attention, especially now as they ratchet up the quality for their Crowne Plaza brand, similar to the impact of the successful upgrade of the Holiday Inn brand.”
Earlier in the year, the firm opened a full-service office in New York to expand its reach to the nation’s most important hotel real estate/financial marketplace, bringing to six the number of Hunter offices in the U.S.
“We polled our offices and found that the areas of greatest buyer interest are the West Coast and Northeast regions, where values have rebounded more quickly than the rest of the country,” Teague said.. “We are looking for opportunities to further build a national presence, and we expect to open additional offices in 2012 as the market continues to improve.”
Additional information, including current listings, is available at the company’s website, www.HunterHotels.net, or by contacting the Atlanta office at 770-916-0300.
Contact:
Jerry Daly or Carol McCune (media)
(703) 435-6293
Patrick Daly
Account Supervisor
Daly Gray, Inc.
Office: (703) 435-6293
Cell: (703) 300-8289
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