Marriott at Legacy Town Center The Marriott at Legacy Town Center was completed in 2001 and includes 49 suites.

PLANO, TX—Hotel volume is down but pricing is up. So said a group of hotel financing experts at the Lodging Conference last week. Moderator Teague Hunter, president of Hunter Hotel Advisors led the discussion regarding $20 million-plus transactions among panelists, Peter Berk, president, PMZ Realty Capital LLC; Ben Brunt, principal and executive vice president, acquisitions and development, Noble Investment Group; Ian McAuley, president, American Hotel Income Properties REIT LP; and Rushi Shah, CEO and principal, Aries/Conlon Capital.

Brunt indicated that volume has been leaner this year, at about 75% versus 2016. Teague indicated that buyers aren’t seeing RevPar growth at this time and expense creep is a factor because of higher construction costs due to increased labor costs. However, Teague said he would argue that the industry is somewhat in check in terms of healthy balance sheets and overall supply.

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