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| Gregory LaBerge |
CHICAGO, IL– Sales of hospitality properties across the
United States are expected to increase in the foreseeable future, thanks to
continued strength in property fundamentals, according to new research released
by Marcus & Millichap Real Estate Investment Services, the nation’s largest
real estate investment services firm.
“Our Q1 2013 Hospitality Research Quarterly Update indicates
that investors remain encouraged by the industry’s heightened prospects for an
extended run of strong performance and the establishment of new highs in room
occupancy, average daily rates and revenue per available room,” says Gregory
LaBerge, national director of Marcus & Millichap’s National Hospitality
Group.
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| William E. Hughes |
Financing is expected to remain plentiful, helping to drive
increased transaction volume. “Access to acquisition financing is modestly
expanding and conduits are expected to take a greater role during 2013, though
their focus will remain limited to top flags and sponsorships,” says William
E. Hughes, senior vice president and managing director of Marcus &
Millichap Capital Corporation (MMCC).
As an example of recent transaction trends, Marcus &
Millichap’s National Hospitality Group closed 19 hotel property sales in the
first quarter of 2013, a 19% increase over Q1 2012.
For a complete copy of the company’s news release, please
contact:
Gregory A. LaBerge
National Director,
National Hospitality Group
(630) 570-2200
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