Mumford Company, a full-service hospitality brokerage advisory firm since 1978, has completed several transactions in the last few weeks to end a robust first quarter.
“The Omicron variant disrupted the transaction pace in late 2021 and pushed several deals to this year,” said Ed James, managing principal, Mumford Company. “As we begin a post-COVID world, we anticipate a quick return to the brisk pace of transactions seen in 2019 and the start of a new growth cycle.”
Some of the recants transactions:
- Sheraton Louisville Riverside Hotel (pictured above) in Jefferson, IN
- Hilton Garden Inn in Tupelo, MS
- Hampton Inn Rochester-Webster in Webster, NY
- Former Econo Lodge Virginia Beach—On the Ocean in Virginia Beach, VA
- Former Rodeway Inn in Montgomery, AL
- New Orleans Inn in Portageville, MO
“There has been a large amount of capital sitting on the sidelines waiting for deal flow to open up in the market,” said Steve Kirby, managing principal, Mumford Company. “We are finally seeing more opportunities available, and buyers have moved toward seller expectations as alternative investments remain elusive or unattractively priced. The pipeline for the remainder of this year looks extremely positive and poised for more transactions.”
For insights from Ed James on the state of hotel transactions, see the March issue of Hotel Business.
