San Francisco’s hotel deal volume is expected to range from $400 million to $500 million in 2011, according to a new report from Jones Lang LaSalle Hotels (JLLH). To date, transactions worth $220 million have already occurred. The firm’s projection comprises the estimated transaction value of properties currently on the market that are expected to transact during the course of the year.
“Though the market suffered more than the average of other major markets during the double-hit of the tech bust and the events of 9/11, San Francisco has consistently shown above-average growth in occupancy rates,” says Andrea Grigg, a senior vice president for JLLH. “San Francisco’s strong occupancy levels, second only to New York’s, support the high interest in the market.”
