Dear Friends,
As we move through the final month of the year, investors have not slowed down the hunt for hotel assets. Given the unprecedented stress on the asset class during the global pandemic, it is great to report that hotel investment was up 289% over the past year (via GlobeSt), demonstrating just how hot this market is right now.
In Q3, there were $9 billion in sales nationally--up 11.4% with mid-level assets dominating the market.
There's never been a better time to be a seller!
To help you navigate this exciting market, you'll find in this issue:
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Downloadable Hotel Sales Comps | OCT- NOV 2021 for the Broward County area.
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The newest Hotel Occupancy Update with a look at the top-performing markets
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A curated selection of the latest hotel market news & trends to help inform your business decisions and strategy
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A selection of my most recent properties for sale
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Active Immediate Buyer Needs
If you know anyone who is considering selling or acquiring a hotel or multifamily property, please send them my way. We have buyers ready and waiting.
Best Regards,
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P.S. You will find a link to my NEW US Hotel Vendor Directory below. This guide is a time-saving resource for hotel owners to connect with dynamic hospitality industry vendors. Stay tuned for more information & updates!
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FOLLOW ME ON LINKEDIN OR FACEBOOK. |
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Premier Hotel Realty
954-543-5411
Director, Greater Pompano Beach Chamber of Commerce
Former Director, Lauderdale-by-the-Sea Chamber of Commerce
Podcast Host: Hotel Happenings with Rick Tobin
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➜ If this was forwarded by a friend, you can sign up to get on our email list here!
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Broward County Hotel Sales Comps Report | OCT-NOV 2021
Wondering how much your property could sell for?
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In this report, you'll find a representative sample of Hotel property sales in the Broward County area.📍
Check out select properties to get an idea of what properties like yours are selling for.
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Download your copy of my latest Hotel Sales Comps Report below. |
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STR: U.S. Hotel Occupancy Update
Week | 28 November - 4 December 2021
U.S. weekly hotel occupancy is currently sitting at 54.8%.
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➜ Occupancy increased from the previous week, but performance comparisons with 2019 show a -8.8% decrease YOY.
🔹 The average daily rate (ADR) was recorded at $127.92, a -0.5% decrease from 2019
🔹 The revenue per available room (RevPAR) was recorded at $70.08, down -9.2% from 2019.
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While none of the Top 25 Markets recorded an occupancy increase over 2019, Miami, lifted by Art Basel, reported the largest ADR increase when compared to 2019
🔹 Miami ADR Increase
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Lots of buyers were disappointed that they missed this one.
It's a great time to be a seller! If you have a hotel you would like SOLD, contact me today.
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Strategic Moves: How Hospitality M&A Activity and Transactions Are Shaping Up in 2021 |
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(via LodgingMagazine) In the early days of the COVID-19 pandemic, hospitality deals slowed as industry investors and leaders took stock of the changing landscape and developed strategies to proceed amid an uncertain outlook.
But in the first half of 2021, between the rollout of COVID-19 vaccines and rising leisure demand in the summer months, a clearer picture of the industry’s recovery timeline began to take shape, and deal activity picked up in tandem.
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From March to May 2020, U.S. hotel transactions dropped 74 percent year-over-year (YOY), according to STR’s annual Hotel Transaction Almanac.
At the time, STR analysts predicted robust transaction activity in 2021 as investors looked to acquire distressed assets. While transaction volume has picked up significantly in the first half of the year, the influx of distressed property sales did not come to fruition to the extent that many in the industry previously anticipated...Continue Reading...
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Tripadvisor Survey Shows U.S. Travelers Will Take a Trip This Winter
As the autumn season wanes, all focus shifts to the holidays, and Tripadvisor’s new Winter Travel Index researches where U.S. travelers are heading for the season.
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(via LodgingMagazine) The final installment of the Tripadvisor Travel Index for 2021, which is based on first-party site data and consumer sentiment data, reveals that over half (55 percent) of U.S. travelers report that they are planning a trip this winter.
This is up from 50 percent from those who traveled in this time in 2020 but still lags behind the 63 percent who hit the road in 2019.
Notably, 24 percent of U.S. travelers are still undecided about winter trips. Only about a third (30 percent) have... Continue Reading...
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Hospitality Companies Plot Digital Transformation
Omni Hotels' Online Event Booking Platform Follows a Moving 'Tide'.
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(via CoStar) In an era in which hotel companies are hyper-focused on profitability, the idea of digital transformation — a term used to described the adoption of technology to streamline business processes and better innovate — is more appealing than ever.
In a webinar session hosted by nonprofit association HFTP titled "The What, Why and How of Digital Transformation," moderator Daniel Connolly, a professor at Drake University, said it's important to understand exactly what digital transformation — or DX — is.
"It's about reimagining and rethinking service delivery models, journey maps, value chains, workflows, competitive methods, et cetera"...Continue Reading...
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We have a high number of buyers who are urgently seeking hotel properties in Florida.
Below are just a few of the many Buyer Wants & Needs that are pouring in!
If you have a hotel property to sell, please get in touch ASAP.
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Tap Into Our 45,000+ Actively Engaged Facebook Members
Contact Me Today For Promotional Opportunities!
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We have one of the largest Florida local community networks on Facebook! |
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Rick is a member and director of the Greater Pompano Beach Chambers of Commerce, and a member and former director of the Lauderdale-by-the-Sea Chamber of Commerce. |
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Developed by CRE HUB at iMedia International for Premier Hotel Realty.
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