Q4: ANOTHER SOLID QUARTER FOR HOTEL TRANSACTIONS

Following up on a blockbuster Q3, pricing and volume of hotel transactions were strong again in Q4.  Positive for HOT.

Upper upscale (UUP) & Luxury Transaction Trends for Q4 2013

  • Q4 2013 worldwide hotel transactions (UUP & Luxury brands) volume was a little more than $3 billion, roughly the same as last year’s quarter and below the monster $5 billion seen in Q3.
  • The number of US luxury/UUP hotel transactions (where price was disclosed) was 17 in Q4 2013 - flat sequentially and 8 more than in Q4 2012.
  • The number of non-US luxury/UUP hotel transactions (where price was disclosed) was 8 in Q4 2013 – flat sequentially and 5 more than in Q4 2012.
  • Relative to a two-year trailing average, US average price per key (APPK) in the UUP segment fell 42% to $155k due to HST’s bargain purchase of Times Square Marriott Marquis.
  • Luxury APPK was strong particularly overseas where there were several +$million APPK deals

GLL companies

Host Hotels

  • Bought Times Square Marriott Marquis at $10K APPK
  • Sold Dallas Addison Marriott Quorum for $101K APPK
  • Sold Philadelphia Marriott Downtown for $217K APPK
  • Sold Courtyard Paris La Defense West – Colombes for $165K APPK
  • Sold Portland Marriott Downtown Waterfront for $175K APPK

Marriott

  • Sold Renaissance Chicago Downtown for $251K APPK

Hyatt

  • Sold Hyatt Key West Resort and Spa for $644K APPK

Starwood

  • Sold Westin San Fran Airport/ Aloft San Fran Airport for $193K APPK

Q4: ANOTHER SOLID QUARTER FOR HOTEL TRANSACTIONS - A1

Q4: ANOTHER SOLID QUARTER FOR HOTEL TRANSACTIONS - A