Strong 2017 Start
Hotel Brokers International announced continued increase in the number of transactions closed by the network's brokers. The year 2016 concluded with the organization's sales up more than 26 percent over 2015, and the most recent sales data compiled shows an additional 8.33 percent increase in the number of sales for fiscal period ending March 31, 2017.
“The increase in sales was a result of the continuing strong economy, including the upward trend in occupancy, average daily room rate and room revenue,” said Tony De George, HBI President 2017 and President of Greene, Canfield, De George, LLC – a full-service hotel advisory firm located in Clearwater, Florida. “Also contributing was the availability of financing for lodging property sales, as well as increased activity on the buying and selling sides of transactions due to anticipation of a strong lodging market moving forward,” added De George.
Review of individual transactions closed by HBI Brokers during first quarter of 2017 shows continued robust sales of properties in the upper mid-scale and lower tiers. Hotel brands sold include Holiday Inn Express, Hampton Inn & Suites, Hawthorn Suites, Quality Inn, Best Western and Comfort Inn, all ranging in size from 42 rooms to 150+ rooms.
“Our current inventory of properties for sale consists primarily of hotels in the economy through upper mid-market segments,” added De George. “We believe these segments will continue to offer buyers a profitable investment.”