Hunter Hotel Advisors announced that it posted a record year in 2012, completing more than 50 transactions at a pace of approximately one per week. In addition, the company said that its total transaction dollar value rose more than 70 percent.
“The number of transactions we closed in 2012 was essentially flat compared to last year,” said Teague Hunter, president. “However, our dollar volume increased dramatically due to the mix of hotels coming to market changing substantially from 2011 as the year progressed. This past year, we represented significantly more full-service and premium-branded select-service hotels, which we believe is the first wave of higher quality real estate being traded, a trend we see continuing over the next several years.”
“This will be a good year for both buyers and sellers. The market will continue to benefit from low inventory and low interest rates, which will have a positive impact on closing deals in 2013.”
All seven Hunter offices enjoyed an active year, with hotels being sold in 23 states. “Strong year-end closings helped us reach a record sales volume in 2012, including a Marriott Suites in Anaheim, Calif., a Hampton Inn in Van Buren, Ark., and a new prototype Sheraton in St. Paul, Minn.,” he said.
“Another trend we see was represented by the sale of a full-service property in downtown Denver that will undergo a major makeover and take on a new flag,” he noted. “With so many delayed product improvement plans, we expect a substantial number of buyers to be looking for repositioning opportunities.”
Looking at 2013, Hunter predicted another record in the company’s transaction activity and dollar volume. “January is shaping up to be the busiest in our history, with a significant number of properties expected to close in the first quarter,” he said. “This will be a good year for both buyers and sellers. The market will continue to benefit from low inventory and low interest rates, which will have a positive impact on closing deals in 2013.”
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