An increasing demand for hotel rooms, has developers looking outside the 25 largest hotel markets for development opportunities; in today’s news we’ll take a look at this increasing demand for hotel rooms in addition to other articles about the downside of an off-market deal, and more.
Hotel developers are looking outside of large cities as the demand for hotel rooms continues to rise. With a growth rate of 16% opportunities to develop outside the 25 largest hotel markets has become more attractive than ever.
Let’s face it, the commercial real estate market favors sellers and unfortunately makes it difficult for a buyer to make that closing deal. ‘Off-market’ deals are just one way buyers are attempting to close a deal before a property hits the market, but it may not be the best way.
An affiliate of Warren Buffett’s Berkshire Hathaway purchases 18.6 million shares of REIT Store Capital Corp. (NYSE:STOR) for $377 million, a price of $20.77 a share, and a 9.8% ownership in the corporation.