Hotel transactions in New York reached a record high in 2011 with 18 transactions comprising nearly $3.5 billion in assets traded, according to Jones Lang LaSalle Hotels. The deals represent a 150 percent increase over 2010 volume. The firm predicts hotel volume in the Big Apple will range between $2.2 billion and $2.6 billion in 2012, representing approximately 15 percent of the U.S.’s total transaction volume. In addition, room supply is expected to increase by 3.4 percent with 17 new hotels totaling 2,700 new rooms opening in 2012.
New York Marks $3.5 Billion in Hotel Transactions in 2011
The 18 deals represented a 150 percent increase over 2010 volume.
New York Marks $3.5 Billion in Hotel Transactions in 2011
The 18 deals represented a 150 percent increase over 2010 volume.
