Dear Friends,
The multifamily market in Broward County is on fire.
There were 90 properties sold during the month of July with an average price tag of around $776K per sale! The short-term rentals (especially those located near beaches) are creating competition for hotel rooms; however, you can find several boutique hotels that rent their space as well through apps such as Airbnb and Vrbo.
To help you navigate this exciting and evolving market, you'll find in this issue:
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Downloadable Multifamily Sales Comps | July 2022 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 selection of my most recent properties for sale
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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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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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Premier Hotel Realty
954-543-5411
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🔹Director, Greater Pompano Beach Chamber of Commerce
🔹Member, Greater Fort Lauderdale Chamber of Commerce
🔹Former Director, Lauderdale-by-the-Sea Chamber of Commerce
🔹Video Host: Hotel Happenings with Rick Tobin
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P.S. Considering selling your hotel property? Simply reply to this email now to connect with Rick. |
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Find out how much your Multifamily property could sell for.
Find out with our latest Broward County Multifamily Sales Comps Report.
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In this report, you'll find a representative sample of Multifamily property sales that took place in the Broward County area in JULY 2022
Check out these select properties to get an idea of what properties like yours are selling for.
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Download your copy of my latest Multifamily Comps Report below. |
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STR: U.S. Hotel Occupancy Update
Week | JULY 31ST to August 6th, 2022
U.S. hotel revenue per available room (RevPAR) reached an all-time weekly high on a nominal and inflation-adjusted basis, according to STR‘s latest data from July 31st to August 6th
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The occupancy level was the highest of the pandemic-era thanks to the country’s highest weekly demand (28 million room nights sold) since August 2019.
🔹 The average daily rate (ADR) experienced a +15.1% increase over 2019 and is now sitting at $154,48.
🔹 The revenue per available room (RevPAR) was recorded at $108,04 up +8.5% from 2019.
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Among the Top 25 markets:
➜ Occupancy: --5.7% to 69.9%
➜ ADR: +15.1% to $154.48
➜ RevPAR: + 8.5% to $108,04
In our area, Miami posted the largest ADR gain with an increase of 32.9% over 2019!
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If you own a hotel property in Florida, you may be surprised to learn that there is currently a high demand for such properties.
In fact, we have a number of buyers who are urgently seeking hotel properties in the state. As a result, if you are thinking of selling your Florida hotel, now is the ideal time to do so.
We will work with you to ensure that you get the best possible price for your property and that the sale process goes as smoothly as possible.
If you are interested in selling your Florida hotel, please do not hesitate to contact us today.
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225-Acre Undeveloped Beachfront Land
Amazing Opportunity in Beautiful Puerto Rico, A Crypto Hotspot
Aguada/Aguadilla, Puerto Rico, 00603
PRICE: $2,500,000
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Sunrise Sands Beach Resort
Great Location Steps from the Atlantic
Fort Pierce, Florida, 34949
PRICE: $9,500,000
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Hotel Seacrest
Tropical Oasis only Steps from the Ocean
Lauderdale-by-the-Sea, Florida
PRICE: $3,890,000
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Hotel Industry Leaders Still Face Burning Questions
NASHVILLE, Tennessee - The collective mindset of the hotel industry is there is now a unique opportunity to change for the better. How this change plays out will have distinct benefits for the future of hospitality and the associates who work in...
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www.costar.com
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US Hotel Pricing Power Expected To Last Despite Shifting ...
NASHVILLE, Tennessee - Given the overall strong recovery in demand and the resulting pricing power that has afforded U.S. hoteliers, industry experts are confident in hoteliers' ability to keep During the "Hotel Industry...
Read more
www.costar.com
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Is monetization of hotel guest and loyalty membership...
Recently Marriott launched the hospitality industry's first global omnichannel media network, the Marriott Media Network, which will enable advertisers to deliver "curated experiences" to millions of are loyalty...
Read more
www.hospitalitynet.org
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15 Hotel Designers to Watch Now
Talk about eye candy. In our first-ever list of top hotel design firms, we spotlight the interior designs and architectural masterworks that are making hotels more comfortable, sustainable, and breathtaking. The hotel industry is emerging from a...
Read more
skift.com
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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, a member of the Greater Fort Lauderdale Chamber of Commerce, and a member and former director of the Lauderdale-by-the-Sea Chamber of Commerce. |
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