Buyers Inflate Property Prices as Values Outpace Demand
From Bloomberg:
Hotel Buyers Inflate Property Prices as Values Outpace U.S. Lodging Demand
Record prices being paid by investors for U.S. hotels may be outpacing gains in room rates and stays as the slow economic recovery damps a lodging revival. Prices for lodging properties climbed to about $185,000 a room in the first quarter, according to research firm Real Capital Analytics Inc. Values had peaked at $153,000 per room in 2006, then plunged 37 percent to a low two years ago. Click here for the full story.
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