“It has been a beautiful ride since the valley of 2009, but in terms of operating metrics we are not at the top of a double diamond downward slope but instead at an inflection point: the transition from RevPAR improving at an increasing rate to RevPAR improving at a decreasing rate,” Cohen says. “Sip a soy latte at Panther Coffee and you will hear that everyone wants to sell their hotels on the beach.”

But, Cohen adds, buyers who could not get in several years ago are starting to show concerned more with value and specifically how they can generate value from freshly built or renovated assets. As he sees it, here is little evidence that the Thompson Miami Beach sale will start an avalanche of transactions. However, he continues, there are more than a few investors who are in a position to cash out and pat themselves on the back.

“It appears that at all levels, this year is about incorporating a greater level of uncertainty into the normal course of events,” Cohen says. “For some investors, especially those who love 'the deal,' it will be difficult not to entertain compelling offers.”

Want more hotel content? Check out my recent column: Is This The New Standard For Suburban Hotels?

MIAMI—Is it time for Miami hotel owners to cash out? Andrew Cohan, managing director of Horwath HTL's Miami office, has a strong opinion.

In response to the recent Thompson Miami Beach sale, Cohan tells GlobeSt.com the brilliance of the asset-light strategy many hospitality management companies are taking is spotlighted in the Thompson deal As he sees it, a CEO should not have to choose between stunting the growth yet again of a well-liked brand, such as Thompson, in exchange for an opportunistic market-cycle-based transaction.

“Who can resist the temptation to sell high after buying low three short years ago? Cohan asked. “At some point you have to be a company who either loves 'the deal' or loves building brand equity, but not both.”

Cohan has another question: Is it time to unload Miami Beach assets?

“It has been a beautiful ride since the valley of 2009, but in terms of operating metrics we are not at the top of a double diamond downward slope but instead at an inflection point: the transition from RevPAR improving at an increasing rate to RevPAR improving at a decreasing rate,” Cohen says. “Sip a soy latte at Panther Coffee and you will hear that everyone wants to sell their hotels on the beach.”

But, Cohen adds, buyers who could not get in several years ago are starting to show concerned more with value and specifically how they can generate value from freshly built or renovated assets. As he sees it, here is little evidence that the Thompson Miami Beach sale will start an avalanche of transactions. However, he continues, there are more than a few investors who are in a position to cash out and pat themselves on the back.

“It appears that at all levels, this year is about incorporating a greater level of uncertainty into the normal course of events,” Cohen says. “For some investors, especially those who love 'the deal,' it will be difficult not to entertain compelling offers.”

Want more hotel content? Check out my recent column: Is This The New Standard For Suburban Hotels?