Steven Goldman (left), of Starwood Capital Group, and Mike Deitemeyer (right), of Aimbridge Hospitality, speak during the Industry Real Estate Finance Advisory Committee panel at the Americas Lodging Investment Summit. — Photo by Bryan Wroten

LOS ANGELES - The rapid pace of interest rate increases and uncertainty over an economic slowdown have U.S. hotel owners and investors wondering what that means for deals this year.

Though more challenging, there’s a lot of potential for hotel transactions in 2023, members of the Industry Real Estate Finance Advisory Committee said.

Speaking during the Americas Lodging Investment Summit, these hotel, finance and advisory executives said the pent-up capital is looking for a little more clarity and waiting for the right deals.

Steven Goldman, managing director and head of hotel acquisitions for the Americas at Starwood Capital Group, said the hotel industry had the mother of all shocking events with COVID-19, but demand rebounded quickly. The question now is whether demand will continue to grow and at what rate.

The industry fundamentals are good, and there’s demand for deals from sources of capital, such as Blackstone, Starwood Capital and Noble Investment Group.

If you just look at the amount of money between the three of us that’s sitting on the sidelines right now, there’s demand to buy, he said.

Read the full article at HotelNewsNow (part of CoStar)