2021 M&A activity – feast or famine?
While the European hotel investment market ends the year with improving numbers of transactions, this pales into comparison compared with the United States. Contributed by Tom Oakden, Hilltop Hospitality Advisors, London With many U.S. owners needing to address liquidity issues brought on by the crisis and by CMBS financing structures that need curing, buyers and sellers in the U.S. have taken advantage of a buoyant hotel investment market. This led to 88 hotel sales in the U.S. in Q3 2021, compared with only 12 in Q3 2020 and remarkably only 40 in Q3 2019. In terms of trends, drive-to leisure…
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