HBI Reports Continued Increase in Hotel Sales
Hotel Brokers International posted a 26 percent increase in the number of hotel real estate transactions closed in 2016 and the upward trend continues for the hotel broker network into 2017.
Hotel Brokers International, the nation’s leading hotel brokerage network, announced continued increase in the number of transactions closed by the network’s brokers. The year 2016 concluded with the organization’s sales up more than 26 percent over 2015, and the most recent sales data compiled shows an additional 8.33 percent increase in the number of sales for fiscal period ending March 31, 2017.
“The increase in sales was a result of the continuing strong economy, including the upward trend in occupancy, average daily room rate and room revenue,” said Tony De George, HBI President 2017 and President of Greene, Canfield, De George, LLC – a full-service hotel advisory firm located in Clearwater, Florida. “Also contributing was the availability of financing for lodging property sales, as well as increased activity on the buying and selling sides of transactions due to anticipation of a strong lodging market moving forward,” added De George.
Review of individual transactions closed by HBI Brokers during first quarter of 2017 shows continued robust sales of properties in the upper mid-scale and lower tiers. Hotel brands sold include Holiday Inn Express, Hampton Inn & Suites, Hawthorn Suites, Quality Inn, Best Western and Comfort Inn, all ranging in size from 42 rooms to 150+ rooms.
“Our current inventory of properties for sale consists primarily of hotels in the economy through upper mid-market segments,” added De George. “We believe these segments will continue to offer buyers a profitable investment.”
Founded in 1959, Hotel Brokers International members lead the industry in hotel real estate sales. HBI hotel brokerage specialists have successfully negotiated nearly 10,500 hotel real estate transactions and consistently account for the largest share of all select-service and economy hotel sales in the United States. The organization’s database currently comprises more than 100 property listings, primarily in the upper mid-market to economy segments. This listing inventory can be found on the association’s website found at www.hbihotels.com. HBI is the founder and host of the popular Hotel Investor’s Marketplace Webcast, HBI also developed the Certified Hotel Broker professional designation program. In addition to hospitality real estate advisory services, HBI offers affiliate membership to professionals in allied fields, including franchising, lending, appraisals and investment services.
Tony De George, CHB
President, Hotel Brokers International
President, Greene, Canfield, De George, LLC
Glenda J. Webb, Managing Director
Hotel Brokers International
Kansas City, Missouri
Categories: Hotel Industry News