NEW YORK CITY—As we enter 2015, US lodging fundamentals are the most robust I can recall during my 35 year career. Rarely has there been a time when the market was generally favorable to buy, sell, and develop hotels in the US.
(To download the full survey results, click here.)
Several new transaction records occurred this past year. The LW Hospitality Advisors 2014 Major US Hotel Sales Survey includes 153 single asset sale transactions over $10 million, none of which are part of a portfolio. These transactions totaled roughly $16 billion, and included approximately 45,000 hotel rooms with an average sale price per room of just over $350,000. While US hotel transaction activity has remained steady, per room pricing has increased dramatically. By comparison, the LWHA 2013 Major US Hotel Sales Survey identified 154 transactions totaling roughly $11 billion including 45,000 hotel rooms with an average sale price per room of nearly $243,000. Comparing 2014 with 2013, the number of trades has remained flat while both total dollar volume and sales price per room have increased an impressive 45%.
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