Ten-X’s Hotel Sales Keep Momentum Going

This DoubleTree by Hilton in Santa Fe, NM was one of 50 properties sold by Ten-X’s hospitality platform in the first five months of this year.

IRVINE, CA—Even as hotel transaction volume has declined at a rate well into the double-digit range—as much as 61% on a year-over-year basis—Ten-X’s hospitality platform closed on nearly $200 million in deals during this year’s first five months. The January-to-May tally of 50 transactions totaling $190 million continues the momentum set in 2015, when the hospitality division nearly doubled its performance of the year prior.

“The effectiveness of the Ten-X online platform is evident in a strong first five months of 2016, which follows the same success we had in 2015 selling high-quality hospitality assets,” says Anthony Falor, managing director of Ten-X’s national hospitality group. The group has closed more than $2 billion in hotel transactions since its launch in 2010.