Newport News, Va. — Mumford Company closed 10 individual transactions in the last 60 days representing a broad range of property types from the Hilton, Choice, Wyndham, and Motel 6 brands, primarily in the southeastern and south-central regions of the United States.
“Transaction volume has continued at a brisk pace starting in early January, and we anticipate an active transaction market for the remainder of 2019,” said Steve Kirby, managing principal, Mumford Company. “We are seeing deals at all levels of the market and all product types and despite some operational challenges, including a persistent labor shortage, believe it is a good time to be on either side of the transaction.”
“Transaction volume in 2019 is pacing ahead of the past few years, and we expect it to continue through the end of the year and into early 2020. We are continuing to see strong demand for hotel acquisitions,” said Ed James, managing principal, Mumford Company. “While the pace of growth may have slowed a bit, property-level operating results remain strong in many of our markets and buyers continue to see upside in the short- and medium-term.”