Transactions - AUGUST 20, 2014

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Resort transaction volume projected to exceed $6b in 2014

by Reg Clodfelter

Demand for resort hotels has continued to rise, with the sector’s transaction volume expected to surpass $6 billion by the end of the year and reach its highest level since 2007, according to a new report by JLL, FocusOn: Resort Sector.

In July, Sunstone Hotel Investors acquired the 544-room Wailea Beach Marriott & Spa for a net purchase price of $325.7 million, or $598,600 per room, from an affiliate of The Blackstone Group, and Cornerstone Real Estate Advisers purchased the Motif Seattle by Destination Hotels & Resorts for a reported $126.9 million,

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