keith thompson
Avison Young Closed 12 Hotel Transactions Over Last 90 Days
Avison Young | March 11, 2024
ATLANTA – March 11, 2024 – Avison Young announces today that the firm has closed 12 hotel transactions over the last 90 days. Four of the sales were Hilton-branded hotels, two were Marriott-branded hotels, and an IHG and other brands made up the balance. Geographically the hotels were located in the following states – IN, KY, PA, CO, VA, AR, MA, GA, and TN. Of special note, Thierry Roch and Rick George closed a sale on a boutique hotel in the Cape Cod area for close to 1m per room and Chris Kilcullen closed the sale for the upscale Ascent on Main in Parker, CO. Chris Stark, Brad Sinclair, Mike George, Thierry Roch and Rick George were t...
When the Pendulum Stops Swinging
H. Keith Thompson | November 10, 2023
By H. Keith Thompson I have been a hotel broker for 33 years and during all past cycles, the markets would simply swing from being either a seller’s market or a buyer’s market and then after a correction, swings back again. Using a swinging pendulum as a metaphor for the hotel real estate market today, the pendulum has almost stopped swinging. In my history as a hotel broker, the only time the pendulum almost stopped swinging was just after 911 and this new interest rate cycle we all find ourselves in today. In 2023, new transactions in the hotel space are down 50-70 percent depending on the brand and the market. Today it is neither...
Avison Young Hospitality Group’s Sales for Last Ten Years
Avison Young | February 2, 2023
ATLANTA – February 2, 2023 – Avison Young Hospitality Group announced that with the closings this week, the hotel brokerage firm has closed 595 hotel transactions over the last ten years. The brand mix was 149 Marriott, 114 Hilton, 67 IHG and Hyatt, 102 Choice and Wyndham and 163 other brands, boutiques, and independents. Geographically, 64 of the closings were in the Northwest, 89 in the Northeast, 91 in the Northcentral, 66 in the Southcentral and 285 in the Southeast. Brad Sinclair said, “clearly with recent interest rate hikes, the last several months have tested the resolve of hotel owners, developers, lenders, investors, and br...
Avison Young’s Hotel Auction Team
Avison Young | April 28, 2022
ATLANTA – April 28, 2022 – Avison Young announced today that Brad Sinclair and Michael Bernath lead Avison Young’s hotel auction team. Over the past 10 months, the team has closed 8 hotels on the Ten-X Auction platform at an average sale of 23% over the reserve pricing. The latest hotel auction ended last week, ultimately selling for 74% over reserve. Avison Young has closed over 80 transactions through the Ten-X platform. Examples of recent closing include the Homewood Suites Lansdale PA, Hilton Garden Inn Cranberry PA, the Springhill Suites Albany/Colonie, NY and the Hampton Inn Omaha, NE. Brad Sinclair said: Our consistent and a...
Avison Young Hospitality Group- December 2021 Sales
Avison Young | January 4, 2022
ATLANTA – January 4, 2022 – Avison Young announced today it closed 15 hotel transactions totaling $264 million for the month of December 2021. $183 million of the transaction volume was big box urban core or Hilton and Marriott assets with geographic locations from Colorado to New York down through Pennsylvania, Virginia, and the Carolinas. The brokers involved in the closings were Brad Sinclair, Andy Broad, Michael Bernath, Chris Stark, Chris Kilcullen, Wendy Blissett, Mike George, Rick George, Thierry Roch and Niven Patel. Keith Thompson said, “These closings represent a continued investment trend in hospitality real estate that...
Avison Young Hospitality Group Closes Marriott Sales
Avison Young | August 18, 2021
ATLANTA – August 18, 2021 – Avison Young announced today it has successfully closed the sale on four Marriott Courtyards and five Springhill Suites. The properties were located from the pacific northwest, Midwest, and eastern seaboard states. The brokers involved in the closings were Brad Sinclair, Andy Broad and Michael Bernath. Keith Thompson said, "These closings represent a continued investment trend into hospitality and the hotels ranged from cash flowing assets to closed hotels all with large required pips. Most importantly they were all priced on 2019 performance levels."...
Avison Young 2021 Transactions
Avison Young | July 27, 2021
ATLANTA – July 28, 2021 – Avison Young Hospitality Group announced that the firm closed its 50th hotel transaction for 2021. Of the 50 closings, 29 were Hilton and or Marriott branded assets and the remaining transactions were among other brand families. Geographically, the hotels were located from the Pacific Northwest, California, across the Midwest and along Eastern seaboard states ending with Connecticut Keith Thompson said, “The closings represent broad segment diversity from upper upscale, midscale to economy and even a couple of independent hotels. It was good to see corporate-driven hotels transacting at a more brisk pace tha...
Avison Young 2021 Transactions
Avison Young | May 19, 2021
ATLANTA – May 19, 2021 – Avison Young Hospitality Group announced today that the firm has closed its 22nd hotel transaction of the 2021 year. The closed hotel transactions were across many brand families and located from California through the midwest and eastern seaboard states. Included in the sales were extended stay, upscale, full service, select service, and limited-service hotels. Of most notable was an eastern seaboard Marriott portfolio transaction led by Avison Young brokers, Mike George and Andrew Broad. Additionally, Brad Sinclair, Michael Bernath, Thierry Roch, and Wendy Blissett have all closed multiple transactions thus...
