Our most recent survey reports the latest in hotel capitalization rates, multipliers, and key investment metrics for the U.S. and Canadian hotel transactions market. U.S. and Canadian hotel brokers report a rise in capitalization rates among the following four categories of hotels: luxury and upper-upscale, full-service, select-service, and limited-service and economy. Transactions today versus one year ago are being influenced by greater attention paid to new supply, PIPs, and replacement costs. On average, marketing times have become longer for luxury and full-service hotels versus the select-service and limited-service sectors, reflecting the complexity of these deals and the time required to bring all minds together on key deal points. Selling expense ratio, when compared to total sale price, remains lowest for the luxury and upper-upscale category. The HVS Fall 2016 Broker Survey presents these and more results from top hotel brokers.
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