Per-Key Hotel Prices Set New Record
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The Baccarat New York traded for $2 million per key in 2015.
PORTSMOUTH, NH—Hotel metrics ended 2015 at either cyclical or all-time highs, according to data from Lodging Econometrics. The new high watermark in the sector was for pricing per room, while sales volume and construction volume for the year came in below prior peaks.
The year just ended tallied 1,117 hotel sales with pricing reported publicly, with an average selling price per room of $162,781, according to Portsmouth, NH-based LE. That’s nearly triple the $57,434 ASPR recorded for the 427 deals that were completed in 2009, the current cycle’s low point…
