Hodges Ward Elliott’s Post

Firstly, Look forward to seeing everyone at the Hunter Conference next week! Feel free to text me, email me, or message me if you'd like to connect. Secondly, the below was just launched last week, one of my personal favorites in the great city of Atlanta! - Strong RevPAR - Growing Market - No Reno Needed - Long Term Franchise - Financeable - Managed by a third party operator, but offered un-encumbered of management. Scarcity Value - There just isn't a significant number of premium select service hotel inventory available for sale in the Atlanta MSA vs. the Demand (been the case for many years and more so the case post COVID), which improves your exit strategy as well when/if the time comes. Plus, why not invest in the area with the 2nd highest RevPAR and growing demand?

Lesson learned: Soft branded hotels This property that we just sold was a well known independent property in the capitol of SD - Governors Inn Pierre. In 2022 the owner entered an agreement with Wyndham for a soft branding to Governors Inn a hotel by Travelodge. This decision translated into a 20% increase in revenue, year one. At the point of sale revenue increased by over 30%. The property ultimately sold, above list, to one of our long term clients who also happens to be on of the most active investors in this, seemingly, turbulent market. The unique part is that, this buyer had never heard of Pierre previously… After multiple conversations, tours, and the rapidly increasing revenue, the decision was easy. Feel free to reach out if you want to know more details or are interested in understanding HOW we get deals done in any market! #cre #hospitality #realestate

Port Melbourne pub investment sold by JLL The freehold interest in Port Melbourne’s Cornerstone Hotel has sold, with the inner-city investment transacting at a market defying yield of 4.50%, further signifying the recent resurgence of activity in Melbourne’s pub market. The transaction was exclusively conducted by JLL Hotel’s Senior Vice President, Will Connolly and Executive, Lachlan Persley. On offer for the first time in 25 years, the property was transacted following a competitive, four-week ‘Expression of Interest’ campaign, with six compelling offers received upon campaign closure, proving yet again that fully leased investments in this sought-after asset class continue to defy market expectations. Read more on The Hotel Conversation https://lnkd.in/gYtMeCzm JLL's Hotels & Hospitality Group Gillian Berardi Peter Harper Ben McDonald Kate MacDonald Edward Browne Tom Gleeson Nicola Raeburn Elyse Balcombe Debbie Farrelly Mark Walsh Gareth Closter Greg Jeloudev Nick MacFie Adam Bury #JLL #pubdeals #melbournepubs #pubtransactions #melbournepubmarket #pubnews #jllhotels #jllaus #melbre #melbournebusiness #pubnews #hotelinvestment #realesstateinvestment

Among the noteworthy deals of the past week was Dune Drifter’s acquisition of the Pacific Edge Hotel in Laguna Beach, California, from Highgate and Morgan Stanley for $80 million. LAGUNA BEACH, California — Dune Drifter, a hospitality startup with ties to the Marriott family, has acquired the Pacific Edge Hotel in Laguna Beach, California, for $80 million. The company was co-founded last year by Cramer Williams and Chris Harrison, who is the grandson of Bill Marriott.  The Century City-based firm bought the 125-key beachfront hotel from New York City-based Highgate Hotel and Morgan Stanley. The purchase price is $640,000 per room, the highest price paid per room in California this year. Highgate and Morgan Stanley bought the hotel in 2017 for $57.5 million and started renovations a year later. It was originally built in 1963. Dune Drifter is planning a hotel renovation that could cost more than $125 million, according to the Orange County Business Journal #commercialrealestate #hotels #hotel #commercialfinance #sbaloans #usdaloans #acomcapital

Among the noteworthy deals of the past week was Dune Drifter’s acquisition of the Pacific Edge Hotel in Laguna Beach, California, from Highgate and Morgan Stanley for $80 million. LAGUNA BEACH, California — Dune Drifter, a hospitality startup with ties to the Marriott family, has acquired the Pacific Edge Hotel in Laguna Beach, California, for $80 million. The company was co-founded last year by Cramer Williams and Chris Harrison, who is the grandson of Bill Marriott.  The Century City-based firm bought the 125-key beachfront hotel from New York City-based Highgate Hotel and Morgan Stanley. The purchase price is $640,000 per room, the highest price paid per room in California this year. Highgate and Morgan Stanley bought the hotel in 2017 for $57.5 million and started renovations a year later. It was originally built in 1963. Dune Drifter is planning a hotel renovation that could cost more than $125 million, according to the Orange County Business Journal #commercialrealestate #hotels #hotel #commercialfinance #sbaloans #usdaloans

Last week at The Lodging Conference, Kevin F. Dailey, COO of LivAway Suites, and I discussed the rapid growth of this new extended stay brand 🏨 aginst the context of LivAway Suites, developed by West77 Partners. They're planning nationwide expansion. Plus, the sold-out success of their first hotel in Salt Lake City to the strategic expansion across the U.S., this conversation offers invaluable insights for investors, developers, and hospitality pros alike! Key discussion points: The incredible growth of Live Away Suites with 12 hotels open or under construction 🏗️ The success of their first hotel in West Jordan, Salt Lake City 🏙️ What makes LivAway Suites different from traditional corporate hotels 🏢 Expansion plans: From Salt Lake City to Richland, Washington, Smyrna, Georgia, and beyond 🌍 The strategic focus on extended stay properties with fast stabilization ⚡ Franchising plans and how West 77 is behind building a national brand 🏆 Key demand drivers: military bases, hospitals, infrastructure projects, and more 🏥 How LivAway Suites is leveraging demand from infrastructure projects like the Chips Act 🛠️ Thanks to our friends Unifocus for supporting this video. #ExtendedStayHotels 🏨 #HotelDevelopment 🏗️ #LiveAwaySuites 🛏️ #HospitalityIndustry 🌍 #HotelFranchise 🚀 #RealEstateInvestment 💼 #HotelGrowth 📈 #LuxurySuites ✨ #HotelFinance 💰 #LodgingConference

Recently LPA asked which commercial property type you believed would be the most resilient throughout 2024, the results are in and they may surprise you.   #commercialrealestate #commercialrealestatevaluation #appraisal #retail #hotel #lodging #industrial #2024predictions #growth #commercialrealestate #commercialproperty  #commercialrealestateappraisers #commercialpropertyappraisal #CREvaluation #propertyvaluation #appraisers #appraisalreports #propertytypeexpertise #ontime #ontimedelivery #ontimeeverytime  #southwestexperts #LPA #LoweryPropertyAdvisors 

Last week at The Lodging Conference, Kevin F. Dailey, COO of LivAway Suites, and I discussed the rapid growth of this new extended stay brand 🏨. Learn how LivAway Suites, developed by West 77 Partners, is planning nationwide expansion. From the sold-out success of their first hotel in Salt Lake City to the strategic expansion across the U.S., this conversation offers invaluable insights for investors, developers, and hospitality pros alike! Key discussion points: The incredible growth of Live Away Suites with 12 hotels open or under construction 🏗️ The success of their first hotel in West Jordan, Salt Lake City 🏙️ What makes Live Away Suites different from traditional corporate hotels 🏢 Expansion plans: From Salt Lake City to Richland, Washington, Smyrna, Georgia, and beyond 🌍 The strategic focus on extended stay properties with fast stabilization ⚡ Franchising plans and how West 77 is behind building a national brand 🏆 Key demand drivers: military bases, hospitals, infrastructure projects, and more 🏥 How LivAway Suites is leveraging demand from infrastructure projects like the Chips Act 🛠️ Thanks to Unifocus for supporting this video. Visit them at Unifocus.com. #ExtendedStayHotels 🏨 #HotelDevelopment 🏗️ #LiveAwaySuites 🛏️ #HospitalityIndustry 🌍 #HotelFranchise 🚀 #RealEstateInvestment 💼 #HotelGrowth 📈 #LuxurySuites ✨ #HotelFinance 💰 #LodgingConference

With an array of new and recent openings, the North West hospitality industry seems as healthy as ever. But what trends should you be looking out for? And how can developers work alongside hospitality operators? In our Property Leaders Whitepaper, Thom Hetherington discusses this and more… #MCR #Manchester #Property

Dominant activity in the hotel mid-markets set to continue - JLL The Australian mid-markets accommodation asset class (≤ A$40 million) has shown strong resilience through 2024 in comparison to other commercial investment markets commented, Nick MacFie, Vice President – Investment Sales, Andrew Langsford, Senior Vice President – Investment Sales and Gareth Closter, Senior Vice President – Investment Sales. “Asset amalgamation in the mid-market sector is becoming increasingly common. Around 75% of transaction volumes in 2024 were from purchasers who already own one or more hotel assets, and this is a trend we expect to continue,” said Andrew Langsford, Senior Vice President – Investment Sales. “In comparison to the larger-scale institutional hotel space, the mid-markets sector has been highly transactional, and we expect this to continue and intensify,” said Gareth Closter, Senior Vice President – Investment Sales “Throughout the year, our specialist team has been very active in selling a number of notable mid-market assets, attracting significant enquiry levels and strong bids from a number of different buyer types. Notable examples include the successful sales of the Great Eastern (A$40 m) and Flag Motor Lodge (A$17 m) in Perth, Mantra Bathurst (A$13 m) in New South Wales, and The Sebel Melbourne Ringwood (A$32 m),” said Nick MacFie, Vice President – Investment Sales. Read more on The Hotel Conversation - https://lnkd.in/gwDiadtG Gillian Berardi Tom Gleeson Will Connolly Lachlan Persley John Musca Kate MacDonald Ben McDonald Greg Jeloudev Edward Browne Mark Walsh Christian Tsalikis Elyse Balcombe Debbie Farrelly Nicola Raeburn Gus Moors JLL's Hotels & Hospitality Group #jll #midmarket #australiamarket #australiarealestate #australiamidmarket #hotels #midmarketaccommodation #forsale #sold