ATLANTA—The Avison Young Hospitality Group announced that it has brokered nine hotel transactions in June, including one full-service hotel and eight select-service hotels. Marriott, IHG, and Choice franchise systems were notable hotel brands that the hospitality group helped close. Assets were primarily located in the Pacific Northwest and Southeast, with one in New York. Chris Stark, Wendy Blissett, Rex Cagle, Andy Broad, Joe Jones, and Keith Thompson represented Avison in the transactions.
“Our closings this month illustrate buyers’ desire for well-located hotel assets,” said Andy Broad, principal at Avison Young. “These transactions and the hotels we have under contract represent full closure on the bid-ask spread for serious sellers and we envision a strong market for the balance of 2017.”
The Avison Young Hospitality Group currently has 52 hotels under sale agreement, comprised of major hospitality brands across the U.S. The national group has a total of 210 hotels on the market valuing $5 billion.