{"id":1003916027,"date":"2008-11-25T12:00:00","date_gmt":"2008-11-25T20:00:00","guid":{"rendered":"https:\/\/64.70.41.235\/2008\/11\/25\/the-trends-hotel-sales-fizzle\/"},"modified":"2022-12-01T03:32:45","modified_gmt":"2022-12-01T11:32:45","slug":"the-trends-hotel-sales-fizzle","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/the-trends-hotel-sales-fizzle\/","title":{"rendered":"The Trends: Hotel Sales Fizzle"},"content":{"rendered":"

Hotel sales volume in the third quarter came in at just $1.9 billion, a hefty year-over-year slide of 80 percent and the property type\u2019s lowest level of quarterly sales since the first quarter of 2004, according to Real Capital Analytics Inc.\u2019s November Capital Trends Quarterly report on the hotel industry. While hotel sales were forecast to touch $9.5 billion through the third quarter and to hit $11.6 billion for all of 2008, volume will probably just barely surpass the total amassed during the first quarter of 2007. Just 93 hotels were sold in the third quarter for price tags that exceeded $5 million. Moreover, the report contended that all major reports saw their year-over-year transaction volume fall.\u201cWith little incentive to buy (and less financing) in a deepening economic downturn, many of the most active buyers from the rapidly receding bull market have moved to the sidelines,\u201d the report states. \u201cHopes for an active Q4 have been severely dimmed.\u201dDespite the lagging economy, some firms did manage to make deals happen. Goldman Sachs, Inland American Real Estate Trust, Apple REIT, Istithmar PJSC and Turnberry Associates were the top five buyers, and RLJ Development L.L.C., Turnberry Associates, HBE Corp., Hyatt Hotels Corp. and Sunstone Hotel Investors Inc. were the top five sellers. Hodges Ward Elliott Inc., Eastdil Secured L.L.C., Jones Lang LaSalle Inc., HREC and CB Richard Ellis Inc. make up the top five hotel brokers.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hotel sales volume in the third quarter came in at just $1.9 billion, a hefty year-over-year slide of 80 percent and the property type\u2019s lowest level of quarterly sales since the first quarter of 2004, according to Real Capital Analytics Inc.\u2019s November Capital Trends Quarterly report on the hotel industry. While hotel sales were forecast…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003916027","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nThe Trends: Hotel Sales Fizzle - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/the-trends-hotel-sales-fizzle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Trends: Hotel Sales Fizzle\" \/>\n<meta property=\"og:description\" content=\"Hotel sales volume in the third quarter came in at just $1.9 billion, a hefty year-over-year slide of 80 percent and the property type\u2019s lowest level of quarterly sales since the first quarter of 2004, according to Real Capital Analytics Inc.\u2019s November Capital Trends Quarterly report on the hotel industry. 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