Large Hotel Transactions Are on the Rise
Skift Take
JLL reports a significant rise in large hotel transactions, particularly in luxury markets, with 2024 seeing a 59% increase in single-asset deals over $200 million, totaling $4 billion.
The DJIA rose 10 points while Nasdaq was up 29, the S&P 500 rose 9 points and the 10-year treasury yield was up .02 to 3.83%. Lodging stocks were mixed in dull trading.
JLL’s latest research revealed large hotel transactions are on the rise, with total single-asset hotel transaction volume for deals larger than $200 million reaching its highest level in eight years. The interest is particularly for luxury hotels situated in high-growth markets and urban centers. This is demonstrated by single-asset hotel transaction volume for deals larger than $200 million, reaching its highest level in eight years. As of August 2024, there has been a 59% increase in transaction volume for single-asset deals larger than $200 million compared to the same period in the prior year, with a total of $4 billion recorded. That is also up 15% from 2019 levels. JLL highlighted eight noteworthy closings this year, including the most recent sale of the Hyatt Regency Orlan
