Topic: Oil and gas markets
While Texas overall saw gains, oil-patch markets lagged the state average in terms of demand and revenue growth.
Following post-hurricane demand increases in 2017, revenue growth in the third quarter of this year has slowed from double to single digits.
Thanks to recovering oil prices improving overall business, Aberdeen, Scotland, has seen a “healthy mix of appetite” from investors in recent years.
The companies join forces to identify and purchase hotel properties in Permian Basin.
Hotel brokers expect the transaction market to remain healthy throughout 2016, but the effects of increasing supply are beginning to be felt.
Hotel analysts believe that the long-term hotel real estate picture in these markets is still healthy.