sold the 220-room DoubleTree by Hilton for $65 million. Two Other Deals Booming Times Lowe Enterprises is selling the Washington Hilton for $315 million

A word about the hotel business in New York. While both domestic and international tourism remain strong, the hotel industry is in a down cycle, the victim of gross oversupply.

You have seen a huge change in what the change in spreads and the change of proceeds over the last 12 months. It's gotten a little better debt wise over the last couple months, but not anywhere near as strong as it was, say, 12 months ago. I think it's a little tougher for folks to be aggressive on the buy side right now, given the cost components for them as well as the outlook on where we are in the cycle.

Kimpton's Private Equity Fund Unit sold the 220-room DoubleTree by Hilton for $65 million. Two Other Deals Booming Times Lowe Enterprises is selling the Washington Hilton for $315 million Vornado Realty Trust New York

A word about the hotel business in New York. While both domestic and international tourism remain strong, the hotel industry is in a down cycle, the victim of gross oversupply.

You have seen a huge change in what the change in spreads and the change of proceeds over the last 12 months. It's gotten a little better debt wise over the last couple months, but not anywhere near as strong as it was, say, 12 months ago. I think it's a little tougher for folks to be aggressive on the buy side right now, given the cost components for them as well as the outlook on where we are in the cycle.

Kimpton's Private Equity Fund Unit