IRVINE, CA—Auction.com, LLC, the nation'sleading online real estate marketplace, has facilitated the sale of30 hospitality properties between June 1and Sept. 30, demonstrating the effectiveness of theonline platform and reflecting the continued health of the hotelsector, the firm says.

|

The 30 asset closings, which ranged from limited-serviceproperties to large full-service assets, represented more than$100 million in total sales.
Since the inception of its commercial platform in2009, Auction.com has grown a massive buyerdatabase that includes both crossover commercial investors andinternational buyers.
The company has sold more than $1.25 billion inhospitality assets, $190 million in this yearalone, while achieving an average time-to-close of 90days and a 98% close rate on hotels successfully auctionedon the platform.
“These totals are indicative of Auction.com's ability toefficiently and effectively find buyers and establish the fairmarket value for a wide array of hotel properties,” saidAuction.com vice chairman and co-founder MonteKoch. “Our platform continues to meet or exceed sellers'expectations on a broad spectrum of hospitality assets.”
Koch also points out that Auction.com's growth in hospitalityvolume runs parallel to the sector's overallimprovement over the past year. In its Q2 Commercial RealEstate Market Monitor, Auction.com reported nearly 20% ofyear-over-year growth in the hospitality sector between June 2013and June 2014.

|

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.