Avison Young Hospitality Group Has Another Strong Year in 2017
ATLANTA – January 18, 2018 – The Avison Young Hospitality Group announced today that 2017 was another strong transaction year for the hotel practice group. Since 2013, the group has closed 325 hotel transactions, consisting of 93 Marriott, 68 Hilton, 43 IHG, 28 Choice, 17 Red Roof, 15 Wyndham, seven Carlson and 54 other branded, historical or independent hotels.
In addition, the hospitality practice currently has 191 assets on the market with a cap value of $3.2 billion. These assets combined have over 17,000 rooms. 70 of the assets are hotels under sale agreement totaling almost 1 billion in allocated property value.
“Given the current financial health in the U.S., we are seeing unprecedented investing in the hospitality space” said Keith Thompson, principal at Avison Young. “This up-cycle began in spring of 2010 and was in a steady growth curve through 2016. In 2017, the accretive value gain to public company stock fueled the current hotel investment space and for this reason we believe 2018 will be the year of large hospitality transactions.”
About Avison Young
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,400 real estate professionals in 79 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties. More information about Avison Young can also be found on its blog, Twitter, YouTube and LinkedIn.published: 01-29-2018