CBRE Hotels Group Sees High Volume Of Hotel Transactions In San Antonio This Year
12 12月 2018
CBRE Hotels Group announces the sale of four San Antonio area hotel properties since January 2018, showing that the city is a prime market for investors.
These hotel properties are: Holiday Inn Express & Suites San Antonio West – SeaWorld, La Quinta Inn & Suites Floresville, Quality Suites San Antonio – North IH 35, Best Western Plus – San Antonio Medical Center South.
“Our clients are telling us that a lot of owners who bought or built hotels during the Great Recession time frame are finally getting to the point where they can sell and get a return that makes sense. Buyers seem to look at San Antonio as a good opportunity to buy a hotel in a big city with stable growth, diversified demand generators and limited new hotel construction,” says Dennis Drake, Senior Associate at CBRE.
Construction of new hotels will only increase the total number of rooms in San Antonio MSA by 2 percent over each of the next two years. RevPAR is expected to end 2018 strong at 4.4 percent before flattening out to 1.1 percent over the next few years.
“Demand in San Antonio remains steady while construction of new hotels is limited, which leads us to believe that San Antonio will be a predictable market for the foreseeable future,” says Michael Yu, Senior Vice President at CBRE.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.