Hotel AG Announces 2011 Year Performance
ATLANTA – December 19, 2011
- Hotel AG announced today that including several closings scheduled for the last 2 weeks of the year, the firm has closed 1 hotel transaction every 9 days for the 2011 year. The transactions were primarily in 2 categories including: 1) banks and CMBS foreclosures; and 2) the upscale select service portfolio market.
Today, the firm has 179 hotels on the market in 39 states with a cap value of 1.4 billion. Of the 179 hotels on the market, 78 hotels are under sale agreement with expectations to close early 2012. This includes 10 portfolios of mostly Hilton, Marriott and IHG Select Service properties with the largest portfolio trading just under the $300 million range and the smallest portfolio trading under the $50 million range.
"We expect that 2012 will be a solid transaction market for Hotel AG and we are very encouraged by the activity in the upper select service segment,'' stated H. Keith Thompson, principal of the firm. "As foreclosures continue to flood the market, there seems to be a real flight to safety in the top fill pattern brands that will stand the test of time. These transactions are primarily sponsored by large investment funds and REITs.''
During the 2011 year, the firm opened 4 additional offices in the US located in Somerset, New Jersey; Tampa, Florida; Portland, Oregon; and Orlando, Florida.
About Hotel AG
Headquartered in Atlanta, Georgia with 19 national offices, Hotel AG is a specialized brokerage firm offering hotel specific real estate and investment banking within the United States. Today, Hotel AG has 179 hotels on the market in 39 states valued at 1.4 billion. The company conducts business with REITs, public and private companies, institutional clients and individual owner operators.published: 12-19-2011