Hunter Conference Bullishness on Hotel Transactions
Skift Take
CBRE Hotels' Robert Webster called this the second best buying opportunity of his career, as the Hunter conference buzzed with transaction optimism. Plus, more hotel deal and development news.
The DJIA was up 47, the Nasdaq was up 105, the S&P 500 rose 17 points, and the 10-year treasury yield was down .02 to 4.20%. Lodging stocks were higher. VAC and BRH paced the group, both up 6% on the day.
Hotel executives at the Hunter Hotel Investment Conference expressed a lot of positive attitude that the transaction market is going to be hot this year. CBRE Hotels Vice Chairman and President Robert Webster called this the second-best opportunity to buy a hotel over his 30-plus career. Cheaper debt is expected to help the value of properties on the sale side. Helping fuel the transaction market is the K-shaped U.S. economy, which should continue to have luxury and higher-end hotels doing much better than those on the lower end. More than half of consumer spending on travel comes from the high end of the spectrum, according to Tourism Economics. Peachtree Group made a case for optimism on the transaction environment.
