“2008 sales of single assets totaling $10 million or more were less than half the number recorded in 2007 in the U.S.,” said Amy Beam, HVS Director of Hotel Transactions. “Percentage-wise, mid-market transactions, which include many limited- and select-service hotels, as well as older full-service properties, fared better. But there’s no question the economy and the lack of lending have taken a toll.”
“The first quarter was the strongest for both major and mid-market transactions in 2008,” said Beam, “with the decline in sales as the year pressed on closely mirroring the decline in the national economy. Even in the major hotel transactions category, only four sales were over $100 million, compared to dozens of nine-figure deals in 2005, 2006, and 2007.”
The HVS 2008 Survey of Major U.S. Hotel Transactions includes an overview of hotel sales price trends over the past 18 years, as well as details on the top sales, the major buyers and sellers, and the major mergers and portfolio sales in 2008. Both surveys include a listing of all transactions with asset name, location, number of rooms, month of sale, total sales price, price per key, and buyer and seller.
Both surveys are now available for purchase online at www.hvs.com/Bookstore. Simply follow the “Buy Now” feature under the respective report. The price of the HVS 2008 Survey of Major U.S. Hotel Transactions is $600. The HVS 2008 Survey of Mid-Market U.S. Hotel Transactions is priced at $500. A copy will be e-mailed to you during normal business hours (Monday through Friday) after your payment has been approved. For more information regarding these surveys, please contact Amy Beam at abeam@hvs.com.
HVS is a global consulting and services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Information within these surveys was taken from our extensive database of sales transactions. HVS serves as conduit for the data but does not assume responsibility or liability for data accuracy, usability, or confidentiality related to the surveys.
HVS Global Hospitality Services
HVS is a global services and consulting organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Since the launching of the firm in 1980, our clients have relied on our specialized industry knowledge and expertise for advice and services geared to enhancing economic returns and asset value. Through a network of more than 25 offices staffed by approximately 400 seasoned industry professionals, HVS offers a wide scope of services that track the development and ownership process.
Starting with an HVS market feasibility and appraisal study, a newly conceived project is justified. Financing through the HVS investment banking team is then arranged, interiors designed, and management hired. Sales and marketing strategies are developed, and organizational assessments are made. When a client requires actual, on-site hotel or restaurant management and marketing, HVS offers these specialized services as well. HVS asset management provides constant operational oversight to ensure the maximization of economic returns and asset value. No other organization offers such a broad range of services. HVS also has specialists in parking operations, golf courses, and convention centers.
Since the year 2000, HVS has performed nearly 20,000 assignments throughout the world for virtually every major industry participant. Our principals literally “wrote the book” on hospitality consulting, authoring numerous authoritative texts and hundreds of articles. HVS is client driven, entrepreneurial, and dedicated to providing the best advice and services in a timely and cost-efficient manner.
