News
No Lodging Complaints; Trophy Refi
July 6, 2011
| Find the ice machine and steal a few towels, it's happy times for hotels. US lodging fundamentals are expected to keep rebounding, meaning a prolonged rise in deal volume, says LW Hospitality Advisors CEO Dan Lesser; he'll be speaking at Bisnow’s NY Hospitality Investment Summit July 27 at The Roosevelt. |
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| Investors who were able to hold on during the downturn are now bringing assets to market, he says. And savvy sponsors who bought properties at or near bottom prices are now getting great returns for relatively short hold periods. Public hotel-centric REITs and private capital funds are competing to invest in the sector. (Hotel Investment Derby, anyone?) Urban 24/7 markets like NY, Boston, DC, and San Fran are the darling hotel investment markets again, but demand is expected tospread into middle America, where pricing has been much slower to recover, he says. Wanna hear more? Join Dan, HEI’s Russ Urban, Denihan’s Ellen Brown, FelCor’s Erik Nylen, Morgans Hotel Group’s Eric Bass, CIM Group’s Justin Rimel, Allied Advisors’Richard Rudd, Prudential Douglas Elliman’s Faith Hope Consolo, PMZ Realty Capital’s Michael Sonnabend, Starwood Hotels’ Mark Purcell, Greenberg Traurig’s Stephen Rabinowitz, Arent Fox’s Richard Brand, and Katten Muchin Rosenman’s Sheri Chromow for the latest insights. Register here. |
