We wish you a very happy 4th of July as we look toward a successful summer season. The month of June was wet but many operators tell me that they still held their own. I know the season has been off to a very strong start and I am told that advance deposits and reservations are in general ahead of last year.
I am asked quite often: How is the Market? It is still not a clear picture but certainly BETTER for sure. The value differential in the minds of a seller are getting closer to that of the buyer mainly because revenues are increasing and therefore value and the buyers can acquire favorable interest rates from the lenders. Lenders are looking at hospitality sales and that is a good reflection on where we are headed.
We have had a very busy Spring and will be announcing a number of sales soon and then some new properties that are coming on the market.
I think one of the biggest issues for owner’s today is that due to changing consumer demands and properties aging there needs to be a more clearly defined exit strategy.
We can help with that; it is a good idea to contact us even if you are 3 or 4 years away from selling. We can help set up a strategy that will maximize the selling price when the time has come.
Please feel free to call me, Joe or Pete at any time on our mobile phones, we really enjoy talking with our clients, customers and friends.