Keyword: Hunter Hotel Advisors
The Hampton Inn & Suites in St. Augustine, Fla., and the Courtyard by Marriott in Cranbury, N.J., traded hands at the end of 2018.
The 119-room hotel, now operated by Marshall Hotels & Resorts, opened in 2008 and underwent a renovation in 2017.
Driftwood Hospitality Management, Driftwood Acquisitions' sister company, will manage the three Fairfield Inn & Suites properties.
It’s no longer enough for hoteliers to set targets for revenue in 2018; now they should be setting targets for the cost of making sales.
Although supply growth is outpacing demand growth, the city has many demand drivers that keep it a top market.
The sale comprised a Hampton Inn in South Carolina and a Home2 Suites in North Carolina.
Hotel brokers expect the transaction market to remain healthy throughout 2016, but the effects of increasing supply are beginning to be felt.