Murfey Company’s Post

Where’s the New York City Hotel Market? Apparently showing ongoing signs of recovery… 1 Hotel Central Park sold yesterday for just above $1 million per key. According to New York City sales records from 2023 and 2024, upper-end hotels (Mondrian, The William Vale, and 1 Hotel Central Park) are trading between $800K and $1 million per room. Mid-market properties (like Hampton Inn, Hilton Garden Inn, and Doubletree) ranged from $400K to $600K per room. Distressed sales (the Roger Smith, Row NYC) were around $200K per key. Is the landscape shifting? What are your thoughts? #NewYork #Hotel #Hospitality #RealEstate #PrivateEquity

Boca Raton has announced the completion of USD 130 million project to renovate all 210 rooms and suites at Beach Club hotel, the only private beach resort at Palm Beach in Florida. #IndiaOutboundMagazine #IndiaOutbound The Boca Raton Read here: https://lnkd.in/d4x8Kw2n

🚧 Provenza Project Boutique Hotel Update! 🚧 I am excited to share the latest progress on our Provenza Project Boutique Hotel! 🏨 The renovation is moving quickly, thanks to such a dedicated crew working around the clock. I can't wait to reveal the final results. Check out the video and see how far we’ve come! 👇 Let me know your thoughts in the comments—what part of the remodel are you most excited to see? #ProvenzaProject #BoutiqueHotel #UnderConstruction #Transformation #ComingSoon

I'm really passionate about the topic of bringing the true essence of HOSTING back to hospitality. In my opinion, we have gotten carried away with modernity and it's time to bring balance to the way we create hotel experiences. 📽 on stage at The Boutique Hotel Investment Conference by BLLA - Boutique Lifestyle Lodging Association #boutiquehotelinvestment #hoteliers #hotelinvestment #commercialrealestate #hoteltechnology #hospitalitytechnology

Ever changing and ever expanding definitely describes the Tampa Bay Area’s dynamic hospitality industry. And the local lodging scene is no exception. Among recent hotel renovations and upcoming openings are: - Seminole Hard Rock Hotel & Casino Tampa’s $65 million investment was designed to elevate the guest experience with the reopening of the Fresh Harvest Buffet, a new gaming area and renovated smoke-free hotel rooms. - SpringHill Suites by Marriott Tampa Downtown at 1105 North Tampa Street anticipates a spring opening. The new all-suite hotel will feature a rooftop pool, bar and restaurant. The eight-story hotel offers more than 160 guest rooms. #tampa #tampabay #visittampabay #hchma #hospitalityindustry #seminolehardrock #hotels #springhillsuites #marriott #tampadowntown #travel #casinos #allsuitehotels #hardrock

Here is a short presentation showing the different ways to find investors for your hotel project, and why My Hotel Project is the perfect answer to your needs. #hotelproject #hoteldevelopment #hospitality #hotelinvestors

There will be a significant reduction in the number of hotel rooms on the #LasVegasStrip this year. However, an impact on hotel performance isn't expected. Big swings in hotel additions and closures/demolitions are not uncommon in this destination. Thank you, Michael Petrivelli, for including insights on the impact of the closures on retail. #hotelpipeline #hotelconstruction #LasVegas

💀 Planning your hotel renovation and not sure where to start? 👻 Check out our latest edition of Hospitality Renovation Tips - Halloween Edition🎃 With L&S as your FF&E solution, you'll avoid these Halloween Horrors! #Hospitality #HotelRenovation #Designtips #Asbuilts #Hospitalityfurniture #HospitalityDesign

There may soon be too many hotel rooms in the Miami area - & that's a great thing for our clients! Why is this important? Right now the hotel market in Miami is HOT - with 72% occupancy & an average room rate of $221 & revenue per available room (RevPAR) at a very high $159. It's no wonder every hotel developer wants to ad so many rooms in Miami. But, in a very short time frame there will be an additional 30% plus more rooms & what this means is our clients can hopefully look forward to lowering prices. Many of the newer properties will be in the $250 plus a night range or more. This means there will be value opportunities at some of the better - but older - properties - many of which were totally renovated over the last few years. As our latest video showed - we can get you value now near MIA - off season - at an amazing $119 a night: https://lnkd.in/ew8Hxzzn Yet - we think we will be able to get you rates near that (off season) even downtown or by the beach especially as new properties come on-line. We are confident even in-season we can get you rates by the beach at or below $199 - & near MIA for $139-149 a night. So if you want to MeetIn.Miami - CLICK HERE TO GET STARTED NOW: https://lnkd.in/gRueJKgD https://lnkd.in/eTByW-Hc