hodges ward elliott
High Cost of Borrowing Contributes to 19% Fall in European Hotel Transactions in 2023, Says HVS Report
HVS | April 3, 2024
03 April 2024, London: High inflation and interest rate rises had a major impact on the European hotel investment market last year, slowing transaction activity and taking volumes 19% lower than in 2022, the second lowest level of investment in the past decade, according to the HVS European Hotel Transaction Report from global hotel consultancy HVS London and its hotel brokerage arm HVS Hodges Ward Elliott. Transaction volume across Europe reached €10.7bn, with 388 hotels* changing hands – and an average price per hotel that was 9% lower than in the previous year, although significantly ahead of the transaction volume in the year...
NYC Hospitality Sector Continues Recovery as Travel Surges and Hotels Reopen
Hodges Ward Elliott | September 23, 2022
New York, NY – September 20, 2022 – As the U.S. continues to recover from the events of the last two years, New York City tourism is returning to pre-pandemic levels as both international and business travel to the area has surged over the past few months. In addition, the reopening of numerous hotels throughout the City, as well as the return of Broadway shows, has also stoked the market which bodes well for the future health of the New York City hospitality sector. These are some of the major takeaways from the New York City Q2 2022 hospitality market report, released by Hodges Ward Elliott ("HWE"), the premier boutique real estate c...
Wolfgramm Capital Acquires Avatar Hotel Group Portfolio and Management Company
Hodges Ward Elliott | February 9, 2022
DALLAS, Feb. 9, 2022 -- Hodges Ward Elliott ("HWE"), the premier boutique real estate capital markets advisor, announced it has arranged the fee-simple sale of the entire hotel portfolio for Avatar Hotel Group ("Avatar"), comprised of three select-service hotels in Texas with 280 rooms in total, to Wolfgramm Capital. Wolfgramm Capital also purchased and assumed Avatar's management company. In addition, HWE negotiated a separate transaction on behalf of Avatar selling a nearly three-acre development site in Plano, Texas pre-approved for a Home2 Suites development, to another buyer. An HWE team led by Austin Brooks advised the selle...
Hodges Ward Elliott Mourns the Passing of President Mark Elliott
June 15, 2021
Hodges Ward Elliott (HWE) is saddened to share the news that company President Mark Elliott passed away unexpectedly on June 12th. Mark joined the firm in 1983 and has served as the strategic leader of the firm’s various business lines for nearly forty years. Along with his partners, he dedicated his career towards shaping the culture of HWE and his steady-hand approach remains a central pillar of the firm’s overall philosophy. Mark is also one of the true legends in the hospitality industry and over the course of his career, he sold more hotels than any other individual in the United States. He was a past co-chairman of Industry ...
Wheelock Street Capital Acquires Hotel Contessa in San Antonio, Texas
Wheelock Street Capital | November 23, 2020
SAN ANTONIO - Wheelock Street Capital announced it has acquired Hotel Contessa, a 265 room, all-suite and AAA Four-Diamond luxury, independent hotel located at 306 West Market Street in San Antonio, TX. The 12-story hotel, built in 2005, benefits from its central location along San Antonio’s highly sought-after Riverwalk with direct access to many of the city’s top cultural destinations, including The Alamo, San Antonio’s Central Business District and the recently expanded Henry B. Gonzalez Convention Center. The Property offers 10,000 square feet of function space, a rooftop pool, a full-service restaurant and bar opening directly ...
Manhattan’s Iconic New York Palace Hotel Sells for $805 Million
Hodges Ward Elliott | August 31, 2015
NEW YORK--August 31, 2015--Hodges Ward Elliott ("HWE"), the world's leading independent hotel brokerage and investment-banking firm, with offices in New York, Atlanta, Los Angeles and London, announced that it has arranged the previously announced sale of Manhattan's legendary New York Palace Hotel for $805 million. LOTTE Group, a South Korea-based owner and operator of luxury hotels, has now closed on the acquisition of the 909-room Midtown landmark, which is located on the corner of 50th Street and Madison Avenue, from Northwood Investors. With this transaction, HWE has now completed $2.86 billion in deals throughout the NYC market si...
