US Hotel Performance Q2 2024
- Posted by admin
- On October 18, 2024
- 0 Comments
2. Hotel Name: Embassy Suites by Hilton Nashville Downtown
Location: Nashville, TN
No. of rooms: 506
Sale Price: $347,200,000
Price per unit: $686,166 per unit
Seller: Crescent Real Estate LLC
Buyer: Host Hotels & Resorts, Inc.
3. Hotel Name: Hyatt Regency San Antonio Riverwalk
Location: San Antonio, TX
No. of rooms: 630
Sale Price: $230,000,000
Price per unit: $365,079 per unit
Seller: Hyatt Hotels Corporation
Buyer: Sunstone Hotel Partnership
4. Hotel Name: 1 Hotel Nashville
Location: Nashville, TN
No. of rooms: 215
Sale Price: $182,800,000
Price per unit: $850,233 per unit
Seller: Crescent Real Estate LLC
Buyer: Host Hotels & Resorts, Inc.
Source: CoStar
Q2 2024 Cap Rates
Average cap rates for U.S. hotels decreased by 10 basis points in Q2 2024 as compared to Q1 2024. The following table illustrates minimum, maximum and average cap rates for U.S. hotels in Q2 2024 & Q1 2024.[/vc_column_text][vc_empty_space height='22px'][media image='10037'][vc_empty_space height='22px'][vc_empty_space height='22px'][vc_column_text]
Source: RealtyRates.com[/vc_column_text][vc_empty_space height='22px'][vc_column_text]Cap Rate Q2 2024 Q1 2023 Difference (bps) Minimum 6.18% 6.29% -11 Maximum 16.30% 16.35% -5 Average 10.75% 10.85% -10 Outlook
A forecast from Costar suggests that office capitalization rates will rise. Although hotel capitalization rates are expected to increase, they are also anticipated to have a smaller delta over office capitalization rates. Outside of transactions, the hotel commercial mortgage-backed securities (CMBS) market is wide open, and MCR and Blackstone, among others, were able to finance and refinance large portfolios at relatively attractive terms. Industry participants expect more to be refinanced as interest rates decrease.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row top_padding='20'][vc_column css='.vc_custom_1679066467697{margin-right: 0px !important;border-right-width: 0px !important;}'][vc_empty_space][/vc_column][/vc_row][vc_row top_padding='20'][vc_column width='1/3' css='.vc_custom_1679066467697{margin-right: 0px !important;border-right-width: 0px !important;}'][/vc_column][vc_column width='1/3'][block_title title='By'][/block_title][/vc_column][vc_column width='1/3'][/vc_column][/vc_row][vc_row top_padding='20'][vc_column css='.vc_custom_1679066467697{margin-right: 0px !important;border-right-width: 0px !important;}'][vc_empty_space][/vc_column][/vc_row][vc_row top_padding='20'][vc_column width='1/4' css='.vc_custom_1679066467697{margin-right: 0px !important;border-right-width: 0px !important;}'][/vc_column][vc_column width='1/4'][staff staff='3037' style='style_2'][/vc_column][vc_column width='1/4'][staff staff='3038' style='style_2'][/vc_column][vc_column width='1/4'][/vc_column][/vc_row][vc_row top_padding='20'][vc_column css='.vc_custom_1679066467697{margin-right: 0px !important;border-right-width: 0px !important;}'][vc_separator][/vc_column][/vc_row][vc_row top_padding='20'][vc_column width='1/3' css='.vc_custom_1679066467697{margin-right: 0px !important;border-right-width: 0px !important;}'][/vc_column][vc_column width='1/3'][vc_column_text]Share via
[DISPLAY_ULTIMATE_SOCIAL_ICONS]
[/vc_column_text][vc_empty_space][ult_buttons btn_title='Get In Touch' btn_link='url:https%3A%2F%2Fus.knavcpa.com%2Fcontact%2F|target:_blank' btn_align='ubtn-center' icon_size='32' btn_icon_pos='ubtn-sep-icon-at-left'][/vc_column][vc_column width='1/3'][/vc_column][/vc_row]" target="_blank">
