Hotel AG Has 73 Hotels Under Sale Agreement
ATLANTA – October 24, 2011 - Hotel AG announced today that the firm has 162 hotels on the market in 35 states with 73 currently under sale agreement. The firm has been successful in closing 1 hotel transaction every 9 days for the past year.
The assets under agreement range in type and size from Hilton and Marriott portfolios to bank REO. Properties include 6 Hilton Garden Inn, 5 Courtyard by Marriott, 3 Residence Inn, 20 Hampton Inn, 10 Fairfield Inn, 13 Holiday Inn Express, 16 Holiday Inn and Choice, Wyndham and Red Roof assets. The balance of the 162 engagements range from full service, resort and bank owned assets of all tier segments.
Keith Thompson, principal of Hotel AG stated, "We are seeing very strong traction in the hotel real estate sector with Wall Street investment funds leading the way. There is a clear flight to safety and hotels today are the darlings of the investment market.''
Michael Bernath, vice president of the firm remarked, "We are still seeing a steady flow of REO assets come to market and we fully expect this to continue. These assets have traded regularly, as they tend to be priced at a discount and therefore provide significant returns for all-cash purchases, as well as providing qualified buyers the ability to attain financing through the SBA programs.''
"Given the current economic environment, there is still a lot of money on the sidelines wanting to come into the market. Additionally there is very little new supply planned in the lodging industry which creates a great opportunity to get transactions done,'' noted Victor Kalyanji, vice president and partner of the firm.
Brad Sinclair, vice president and partner of the firm commented, "We are witnessing a strong transaction market right now. One area in particular that has significant interest and is yielding multiple offers from buyers is larger portfolios of performing assets with a brand mix of mostly Hilton, Marriott and IHG.''
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. The company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Today Hotel AG has 129 hotels on the market in 33 states valued at $1.3 billion. published: 10-24-2011