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Commercial real estate news releases from Avison Young
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Avison Young Transaction Volume on the Rise
February 24, 2021ATLANTA – February 24, 2021 – Avison Young Hospitality Group said today that their hotel transaction volume so far in 2021 has been good. The firm went on to say that out of 111 current engagements actively on the market, they have 52 under sale agreement.
Keith Thompson said, “clearly, the hospitality real estate market is expecting that vaccines will aid the hotel and travel industry for 2021. Hotel performance this year is still projected to be well below 2019 levels but we are seeing RevPAR beginning to improve. The smart people in the room say 2021 revenue will end the year at 65%-70%+/- of 2019 levels."
Avison Young Hospitality Group has 60 US offices, closed 487 hotel transactions since 2013, closed 76 auctions and sold 9b of commercial loans. Young Hospitality Group specializes in select service and full-service hotels within the US and works with CMBS lenders, whole loan banks, REITs, public companies, investment funds, and private investors.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
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