Jul
26

CoStar: Hotels Rivaling Apartments As Targets for Investors

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A number of large multi-property hotel acquisitions in recent weeks by Hyatt Hotels, Pebblebrook Hotel Trust and Chatham Lodging Trust illustrate the rising appetite for hospitality investments, a quest that’s quickly spreading beyond REITs to other institutional and private investors.

What’s more, prospective buyers are trolling for more than just the top-quality inns and resorts on the U.S. coasts, now looking at deals in such large inland metros as Pittsburgh and Denver.

About $11.36 billion in U.S. hospitality properties traded hands in the first half of 2011, up 134% from $4.9 billion in the first half of last year and up eightfold from the market doldrums of first-half-2009, according to preliminary sales volume data from CoStar Group.

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