Sales Up, But Watch Out For Backhoes
Q1 brings good news from Marcus & Millichaps national hospitality group: Sales of hospitality properties across the US are expected to rise in the foreseeable future, with plenty of financing to drive those deals. (The group closed 19 hotel sales in Q1, a 19% increase year-over-year, including the Fairfield Inn & Suites by Marriott in The Woodlands, Texas, under construction above.) Markets like Miami, Los Angeles, and New York are experiencing record-highoccupancy, according to CoStar, thanks to the return of macroeconomic growth and jump in both leisure and biz travel--translating into great returns for investors. Oversupplied? Austin, Houston, and Denver are all undergoing quite a bit of construction.
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