Wednesday, April 17, 2013

Marcus & Millichap Forecasts Hospitality Property Sales Expected to Jump in 2013, Thanks to Positive Outlook




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.

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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