Hotel AG Closes Its 71st Hotel Of The 2012 Year
ATLANTA – November 26, 2012 – Hotel AG announced today that the firm has closed its 71st hotel transaction for the 2012 year. The vast majority of the properties closed were branded under Hilton, Marriott or IHG brands. The largest portfolio sale YTD was $200 million with the smallest portfolio at $25 million. Several other portfolio sales were priced in the $100 million range. Approximately 55 percent of the hotel properties sold were sold in portfolio transactions with the remaining properties being single asset sales.
"We see great traction in today’s hotel real estate market with the greatest demand being assets purchased by REITs and Investment Funds. Most of the assets sold were accretive value purchases with existing cash flow. The transactions closed this year have been across all brand families and even some independent branded assets. Hotel AG has 262 hotels on the market today with many of those under contract for sale closing between December 2012 and February 2013,'' commented H. Keith Thompson, principal of the firm. "Some brokerage firms count transactions as note sales, consulting, loan/mezz placement, valuations and advisory engagements. While we do all of those real estate functions as well, we only keep score with actual hotel sales, therefore the 71 hotels represent only actual hotel sale transactions.''
Today Hotel AG has 262 hotels on the market with a market value of $2.6 billion. The firm has closed 1 hotel transaction every 7 days for the past 28 months.
About Hotel AG
Hotel AG is specialized hospitality brokerage firm offering hotel specific real estate within the United States. Headquartered in Atlanta, Georgia, the company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Hotel AG can be found online at www.hotelassetsgroup.com.published: 11-26-2012