Cahill tells GlobeSt.com that the sales indicate that activityin the $10 million and under category continues to increasesteadily "as additional buyers perceive that market fundamentalsare at or near bottom." Concurrently, he says, HREC anticipatesseeing similar activity pick-up in sales over $10 million in thelast half of 2010. "We currently have exclusive hotel listing onover 45 hotels throughout North America and believe that closingactivity in the last half of the year will exceedexpectations."

The recent closing of the 119-room Hotel Highland was handled byBill Murney, SVP in HREC's Phoenix office. Stoneridge CapitalPartners acquired the Hotel Highland and marks their entry into thehospitality sector. "The buyer decided to pursue the acquisitionafter touring the newly renovated property and the high end marketdemand area in which the hotel is located. Stoneridge aggressivelypounced on the opportunity, and closed the transaction early, whichallows them to achieve the balance of the high season revenue fromthe property," says Murney.

[IMGCAP(4)]Larry Kaplan, SVP in HREC's Denver office handled thesale of the Holiday Inn Express in Onalaska. "This sale is furtherproof that hotels with desirable brand affiliations, pricedappropriately for the current economic environment, can be bothfinanced and sold in today's challenging investment environment. Wecontinue to witness increased interest throughout the country amonghotel investors for high quality hotel product," says Kaplan.