Hunter Hotel Advisors reported today another strong year in 2013, havingcompleted 51 closings with total transaction value exceeding $500 million. Thisyear’s solid results, with an average of one closing per week, was fueled byrecord performance in the fourth quarter with 15 closings valued at more than$150 million.
“The rebounding economy, continued stronglodging market fundamentals and the availability of equity and debt allowed usto maximize performance,” said Teague Hunter, president of Hunter HotelAdvisors. “For the first time in years, both Wall Street and Main Street werewilling to transact,” said Hunter. “Larger companies continued to focus on keyurban markets, which left some excellent full- and select-service assetsavailable in secondary and tertiary markets.”
This past year, Hunterrepresented clients ranging from REITS and large private equity funds toregional investment groups. Most of the firm’s listings were in thepremium-branded full- and select-service sector of the hotel market. Hunter’sregional offices including Los Angeles, Washington, D.C., New York, Atlanta,Phoenix, Jacksonville and Miami enjoyed a record number of closings with hotelsales being recorded in over 30 states.
Hunter predicts that thenumber of transactions will continue to accelerate in 2014. “We are optimisticthat the continued low interest rate environment and the narrowing bid-askspread will make 2014 a very active year,” said Hunter. “To continue providingexceptional service to our clients, Hunter is expanding our team by 20 percentin 2014. Along with the Capital Markets platform we added in 2012, theseadditional resources will allow us stay at the forefront of this fast-pacedhotel real estate market.”
Hunter is one of thenation's leading providers of specialty brokerage and advisory services to thehotel industry. With seven strategically-located offices, Hunter's team ofseasoned professionals and the industry's brightest stars have leveraged theircombined expertise to successfully advise thousands of clients through alleconomic conditions.
Additional information,including listings, is available at www.hunterhotels.net.