CoStar Group, Inc., the data and analytics leader of the commercial real estate industry, today announced the Power Brokers Quarterly Deals winners for the second quarter of 2020. Dennis Hopper, Managing Principal of DSH Hotel Advisors, came out on top of the list of winners in the hotel sector within a defined market. Power Brokers Quarterly Deals winners are determined by their top deals in specific major markets, every quarter, based on sales price and square footage.
“Covid-19 has really slowed down the volume of hotel transactions this year; however, we are still averaging between 7-10 offers on every exclusive listing assignment, which is allowing us to move deals to contract and get them closed. There is still a large portion of buyers sitting on the sidelines waiting to see what happens with the market or hoping for big discounts, but there is also a segment of buyers that remain optimistic about the recovery and are willing to pay fair prices for hotels based on 2019 valuations with a 5-15% discount applied – for the right property.
Additionally, we’re beginning to see an increase in BOV (broker opinion of value) requests from lenders that are anticipating foreclosing on certain hotel properties and will need to sell them – which is an indication that some owners are unable or unwilling to service their debt and will ultimately give the property back to the bank. With all of this said, we’re hopeful that the market recovers quickly and we’re going to continue to see deal volume increase as the months pass.” says Hopper.
Please help us congratulate Dennis Hopper and DSH Hotel Advisors on their Power Broker Quarterly Deals win for the second quarter of 2020.
About DSH Hotel Advisors www.DSHHotelAdvisors.com:
DSH Hotel Advisors is a national hotel brokerage and advisory firm based out of Tampa, Florida. The firm exclusively represents investors seeking an acquisition or disposition of hotel assets throughout the United States, with a regional focus in the southeast. The company has deeply rooted relationships with key personnel throughout the hospitality industry, including independent and institutional investors, real estate and franchise attorneys, management companies, franchisors, contractors, and lenders, allowing them to deliver a full spectrum of service to their clients and ensure the best team is on the field for every assignment. In addition to the vast network of hotel buyers within DSH Hotel Advisors’ network, the firm also promotes collaboration with other brokerage firms in an effort to maximize the sales price on every exclusively listed assignment.
For more information, visit: https://www.costarpowerbrokers.com/quarterly-deals/
Dennis S. Hopper
Managing Principal | DSH Hotel Advisors
Direct: (813) 605-1756