Frances K.’s Post

Q1 2024 Arizona Hotel Industry Overview. The first quarter saw a mix of challenges & achievements for the hotel industry. While the total number of hotel transactions over $10 million decreased by approximately 23% from the previous quarter, and the total dollar volume fell by roughly 18%, the average sale price per room saw an increase of 5%. Here’s a list of notable Arizona Sales Transactions: • The Arizona Biltmore / $705 million ($1 million a key) • Aloft Glendale Westgate / $23.7 million ($237k a key) • Country Inn & Suites Phoenix / $11.2 million ($127k a key) • Sleep Inn & Suites Tempe / $13.3 million ($184k a key) • Super 8 Tempe / $15 million ($272k a key) Arriba Capital is continuing to provide debt solutions for hoteliers. Contact us today to discuss financing your next project. #ArribaCapital #RealEstateInvestment #HotelIndustry #MarketInsights #Q12024Update

- 💼 CL Hotels acquired Circa 39 Hotel in Miami Beach for $25.55 million. - 🏨 Circa 39 Hotel is an Art Deco-style building with 97 rooms located at 3900 and 3924 Collins Avenue. - 💰 The deal translates to approximately $263,400 per room. - 🔄 The property was sold by a joint venture between Black Salmon Capital and AMS Hospitality Group. - 🏢 Black Salmon shifted focus from hospitality to housing and industrial markets. - 🏗️ Originally built in 1939, Circa 39 Hotel will undergo a multimillion-dollar renovation by CL Hotels. - 🤝 CL Hotels entered a franchise agreement with IHG Hotels and Resorts to rebrand the property under IHG's Vignette Collection. - 🌆 Miami-Dade's hotel market ranked as the best-performing market in the U.S. with an 88.2 percent occupancy rate in February. RISE Realty #miamibeach #hospitality #realestate #realestateagent #realestatemarket

The hotel industry started 2024 with great enthusiasm, but as the year has rolled out, things haven't gone quite as hoteliers expected. During the "Investment & Development Insights" panel at the 2024 ALIS Summer Update conference, hotel company executives spoke about stagnation in the hotel transaction market and what potential interest rate cuts would actually mean for owners. #hotelinvestment #hotelconsulting #hoteltransactions

In the hotel industry, there lies immense potential for innovation and profitability by redefining the purpose and image of overlooked hotels and motels 🏨 By transforming them into boutique stays through branding and strategic refinancing, investors can unlock hidden value and cater to a niche market, ultimately leading to increased profitability and success in the industry 🙌 Would you invest in a boutique hotel this year? #HotelIndustry #BoutiqueHotel #HotelInvesting #HospitalityIndustry #HotelManagement #RealEstateInvesting #InvestmentOpportunity #Profitability #HospitalityBusiness #BoutiqueStay #Hotelier

The LAKELAND/ WINTER HAVEN (FL) Hospitality Market Update. Lakeland and Winter Haven Florida are located in Polk County, just east of Tampa and west of Orlando. This submarket is made up of 117 hotel properties with a total of around 8800 rooms. The Lakeland / Winter Haven submarket occupancy and ADR for the 12-month period ending February 2024 are 60.6% and $136 respectively. The Lakeland / Winter Haven economy/midscale hotel market occupancy and ADR for the 12-month period ending February 2024 are 52.8% and $83.79 respectively. The Lakeland / Winter Haven upscale/upper midscale hotel market occupancy and ADR for the 12-month period ending February 2024 are 72.1% and $148.58 respectively. This region has an active investment market, but recorded fewer trades in the last 12 months vs recent years mirroring the national trend. There have been 3 hotel sales recorded in 2023. For a full market data report, reach out or comment below.

Host Hotels & Resorts has made a significant move by acquiring the stunning 1 Hotel Central Park from Starwood Capital Group for $233.8M, with the total sale price reaching $265M. This 18-story gem on Sixth Ave, opened by Barry Sternlicht's Starwood in 2015, has finally achieved its goal of selling for over $1M per room. NYC's hotel market continues to thrive, with average revenue per available room hitting an all-time high of $245.77 last year, 144% above the national average. In 2023, investors poured $3.3B into NYC hotels, the highest since 2016. This trend isn't just local; a CBRE survey reveals that most hotel investors nationwide plan to expand their portfolios this year. Host Hotels & Resorts is on a roll, adding the 1 Hotel and Embassy Suites in Nashville and the Turtle Bay Resort in Oahu to its impressive portfolio. This bullish approach reflects its confidence in the market's resilience and growth potential. These acquisitions demonstrate a strategic investment in prime locations, ensuring a diverse and robust portfolio. As New York City continues to attract millions of visitors annually, the demand for high-quality accommodations is only set to increase, providing lucrative opportunities for savvy investors. The hospitality sector's strong performance underscores the city's enduring appeal and economic vitality. It's a testament to the resilience and dynamism of the NYC real estate market, promising continued growth and exciting prospects for the future. Let's continue to watch our city soar with these dynamic developments! #NYCRealEstate #HotelInvestment #1HotelCentralPark #HostHotels #StarwoodCapital #RealEstateNews

🏨 Host Hotels & Resorts Exciting Acquisition in Nashville's Hospitality Scene! 🎉 🌟 Bloomberg reports that Host Hotels & Resorts Inc. acquired the renowned 1 Hotel Nashville and the neighboring Embassy Suites in a landmark transaction valued at over $500 million. 🤝 The acquisition was made from a consortium of esteemed owners, including Starwood Capital Group, Crescent Real Estate, and High Street Real Estate Partners, highlighting collaborative excellence in Nashville's dynamic real estate market. 🏙️ Situated in downtown Nashville, facing the iconic Music City Center, the 1 Hotel Nashville boasts 215 rooms and commenced operations in July 2022, offering guests a luxurious and unforgettable experience. 📈 This strategic move underscores Host Hotels' commitment to expanding its portfolio in high-growth markets, further solidifying its position as a leading player in the hospitality industry. 💼 Representatives for Starwood declined to comment on the transaction, while Host Hotels refrained from immediate response. Requests for comment from Crescent and High Street representatives remain unanswered at the moment. 🌟 Nashville's burgeoning real estate market continues to attract significant investment, with notable transactions including Bill Gates' Cascade Investment reportedly acquiring the Dream Hotel and Xenia Hotels & Resort Inc. purchasing the W Nashville. 🏨 In line with its growth strategy, Host Hotels previously agreed to acquire the Four Seasons in Jackson Hole, Wyoming, further enhancing its presence in upscale leisure destinations. https://lnkd.in/gdhkuDU2

The RevPARs win. So here's my question: Two hotel investors that I have talked to mentioned that their favorite metric to watch is Peak Season Future Bookings. No GMs selected this in the poll. It could be that the investors were in East Coast properties that live and die by the their peak seasons...but that's true for a lot of the country. 🤔 A disconnect between the operators and the managers or just a coincidence? #hotels #generalmanager #hotelinvestment

We are strongly going into acquisition mode for limited service to full service franchised hotels. What I'm seeing so far is interesting. I don't know if it is the owners or the brokers 1. 1st Hotel. This hotel is worth $8m so the broker is asking $8m. The franchise says full PIP is needed at around $2m. The owner won't back off of the price. 2. 2nd Hotel. This hotel is an older outside corridor hotel that makes decent $$. The area supports a 3.4x gross. This hotel, which is an economy brand is listed at 4.2x gross. Interesting. What are the other buyers seeing? #hotelowners #hospitality

July Hotel Sales in California by the numbers: - Transactions: 16 ( ⬇ 23% from last LY)  - Price per key: $244,052 ( ⬇13% from LY) - Sale vs Asking price: ⬇ 9.8% - Sales Volume: $332 million ( + 112% from LY) -Months to sale: 5.7 months Notes: Hotel market in California continues to experience challenges as we go into the second half of the year. Sales volume was very strong in July but 50% of that was made up one transaction. The private sector makes up majority of the purchases but we did get some action from institutional buyers who have been quiet in 2024. Notable Sales: -Hilton La Jolla Torrey Pines  -Carte Hotel San Diego Downtown -Extended Stay Los Angeles  -3900 W Century Blvd - Lüm -Ramada LAX #hotelmarket #california #hospitality #losangeles #hoteldevelopment #hotelbusinss #hotelier #californiahotel #hotelsales #cre #commercialrealestate