Report: Strong hotel metrics in NYC to drive transactions growth

06/13/2013 | HotelsMag.com (free registration)

The volume of hotel transactions in New York is poised to increase amid solid performance gains by properties in the area, CBRE Group says in its spring 2013 Manhattan Hotel Real Estate Market Snapshot. "Solid hotel metrics, combined with the most fluid capital markets since 2007, will likely result in nearly $3 billion Manhattan hotel investment sales in 2013 and the average price per room of those sales is expected to break $600,000 for the first time on record," said CBRE Hotels Vice President Bradley Burwell.

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