Tracking Hotel Sale Transactions
Based on recently released third quarter data, there were more single asset sale transactions in 2012 than in the same period in 2011. We hope this will be a reason to celebrate as we close in on the year end and that 2013 can continue on pace, fiscal cliff or no fiscal cliff. According to a recent article on hotelbusiness.com regarding the LW Hospitality Advisors Q3 2012 Major U.S. Hotel Sales Survey, there were 28 single asset sale transactions over $10 million each, compared to 21 such sales in the same period last year.
Those transactions totaled roughly $1.7 billion and included approximately 7,500 rooms, with an average sale price per room of approximately $233,000. By comparison, the 21 transactions in Q3 2011 totaled about $800 million and included 4,500 rooms with an average sale price per room of $180,000. Check back here from time to time for the most recent data.