ATLANTA - Hunter Hotel Advisors announced its highest monthly closings since 2007 with April transactions totaling over $80 million. The majority of the recent transactions consisted of select service hotels including Hilton Garden Inns, Homewood Suites and Fairfield Inns.
Teague Hunter, president of Hunter Hotels, indicated the second quarter jump is largely due to owners seeking to close before the summer travel season begins. “We definitely see an urgency in recent closings by the owners’ willingness to take full advantage of the summer travel season,” said Hunter. “The travel industry predicts that Americans will travel in huge numbers this year, eclipsing last summer’s travel to be the strongest summer in years.”
Hunter’s Miami office lead activity with four April hotel closings, and Hunter is seeing an uptick in activity at their Northeast offices including the sale of hotels in Amsterdam, NY and Secaucus NJ. “Our analysts have been busy with East Coast valuations especially in the D.C. and the tri-state area,” said Kyle Stevenson, senior vice president of Hunter Hotel Advisors.
The firm is currently marketing over 100 full and select service hotels across the US with total valuations close to a billion dollars. Additional information, including current listings, is available at the company’s website, www.HunterHotels.net, or by contacting the Atlanta headquarters at 770-916-0300.