Hotel sales across the world haven't just taken a hit amid thecoronavirus pandemic but have flat out tumbled compared with lastyear — by half in this year's first five months and by 87% in thesecond quarter.
Globally 113 hotels sold since April 1 until late June, an 86.7%drop from the 850 hotel sales from last year's second quarter,according to New York-based commercial real estate data andanalytics provider Real Capital Analytics Inc.
Real Capital cautioned against betting on a market rebound asthe outlook remains gloomy as a result of a still increasing globalinfection rate and decreasing travel demand.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
