Through 3rd Quarter 2016, Hotel Brokers International has equaled their sales of 2015 and expect by year end to exceed 2015 totals by as much as 33 percent. The values of the hotels are also up by nearly 45 percent.
Hotel Brokers International, the nation’s leading hotel brokerage network, announced increased number of transactions in first three quarters of 2016. While brokers nationwide are reporting full service, resorts and portfolio sales have dropped in 2016 by as much as 67%, HBI is seeing continued robust sales of properties in the upper mid-scale and lower tiers. Through 3rd Quarter 2016, HBI has equaled their sales of 2015 YTD and expect by year end to exceed 2015 totals by as much as 33%. The values of the hotels are also up by nearly 45%. These typical hotels range from independent limited service to Best Western to Holiday Inn and from 42 rooms to 150+ rooms.
Diana Alt, President of HBI and associate broker for Scoggin Blue LLC, says, “Conventional financing is readily available in metro and secondary markets through the local and regional lenders. But lenders like PMC Commercial Trust, who do SBA hotel lending nationwide, are busy in the market also. We expect this trend to continue through 2017 and into 2018, particularly for the under $10MM transactions.”
Founded in 1959, Hotel Brokers International members lead the industry in hotel real estate sales. HBI hotel brokerage specialists have successfully negotiated nearly 10,500 hotel real estate transactions and consistently account for the largest share of all select-service and economy hotel sales in the United States. The organization’s database currently comprises more than 100 property listings and the HBI website attracts site visitors from all over the world. Founder and host of the popular Hotel Investor’s Marketplace Webcast, HBI also developed the Certified Hotel Broker professional designation program. In addition to hospitality real estate advisory services, HBI offers affiliate membership to professionals in allied fields, including franchising, lending, appraisals and investment services. For more information about HBI’s hotel listings or to become a broker or affiliate member, visit www.hbihotels.com.
President, Hotel Brokers International
Associate Broker, Scoggin Blue LLC
Glenda J. Webb
Hotel Brokers International