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2017 a Bifurcated Year for Hotels

Sales transaction volume was down for the year compared to 2016, but the lodging sector set new records in key performance metrics.

Exterior of resort hotel At $386.3 million, Commerz Real’s acquisition of the Alohilani Resort Waikiki Beach was 2017′s largest single-asset hotel transaction.

PORTSMOUTH, NH—2017 was something of a schizoid year for the hotel sector. On the one hand, by some measures—but not all—sales transaction volume was down; on the other, the average selling price per room (ASPR) was up. On one hand, the lodging industry established a new record for supply, but on the other hand it also had a record year for key performance metrics.

Lodging Econometrics said Thursday that based on 827 hotel transactions where selling prices were made public, the ASPR last year was $141,479. That’s down from the peak of $154,230 set in 2015, but up 8.6% year over year, according to Portsmouth, NH-based LE.

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Paul Bubny

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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