5 Things to Know: California Led 2017 Hotel Sales in US
California led 2017 hotel sales in U.S.: According to data gathered by Atlas Hospitality Group in its 2017 year-end California hotel sales survey, California executed the most individual sales transactions of any state with 369, which is a 14.6% increase from 2016. The state also set a record for median price per room at $106,496.
Los Angeles County buoyed these numbers for the entire state, according to the survey.
Atlas forecasts California will continue to attract capital from international investors, namely from the Asia/Pacific region. However, potential hindering factors such as rising labor costs, increasing interest rates and hotel supply could continue to be issues for hotel buyers and sellers, Atlas reported.