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| Marriott TownPlace Suites Anaheim, CA |
ATLANTA, GA, Jan/
10, 2013—Hunter Hotel Advisors announced today that it posted a record year in
2012, completing more than 50 transactions at a pace of approximately one per
week. In addition, the company said
that its total transaction dollar value rose more than 70 percent.
“The number of transactions we closed in 2012 was
essentially flat compared to last year,” said Teague Hunter, president.
“However, our dollar volume increased dramatically due to the mix of hotels
coming to market changing substantially from 2011 as the year progressed.
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| Teague Hunter |
“ This past year, we represented significantly more
full-service and premium-branded select-service hotels, which we believe is the
first wave of higher quality real estate being traded, a trend we see
continuing over the next several years.”
All seven Hunter offices enjoyed an active year, with hotels
being sold in 23 states. “Strong year-end closings helped us reach a record
sales volume in 2012, including a Marriott TownPlace Suites Anaheim, in
Calif., a Hampton Inn in Van Buren, Ark., and a new prototype Sheraton in St.
Paul, Minn.,” he said.
“Another trend we see was represented by the sale of a
full-service property in downtown Denver that will undergo a major makeover and
take on a new flag,” he noted. “With so
many delayed product improvement plans, we expect a substantial number of
buyers to be looking for repositioning opportunities.”
Looking at 2013, Hunter predicted another record in the
company’s transaction activity and dollar volume.
“January is shaping
up to be the busiest in our history, with a significant number of properties
expected to close in the first quarter,” he said. “This will be a good year for both buyers and sellers. The market will continue to benefit from low
inventory and low interest rates, which will have a positive impact on closing
deals in 2013.”
For a complete copy of the company’s news release, please
contact:
(703) 435-62
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