RobertDouglas, Smith Travel Research, And Hotel News Now Release The 2015 Hotel Lender Survey
Smith Travel Research, Hotel News Now, and RobertDouglas conducted a second hospitality lending survey to measure the current state of financing market conditions and to ascertain critical future expectations through the lens of the specialist hospitality lending community. Over fifty lenders, including senior balance sheet lenders, CMBS lenders, and providers of subordinate debt financing, participated in this inaugural survey – together representing the source of more than 75% of all hotel debt with loan balances in excess of $10 million that was originated in the U.S. in 2014.
Overall, the survey results suggest a continued optimistic outlook of stable to continued growth in asset values, increasing liquidity for hotel finance and generally stable risk spreads – all in an environment with underlying expectations of moderate interest rate increases following the surprise decrease in long-term rates experienced in the prior year. Lenders generally expect to originate more hotel debt in 2015 than in 2014; however, there has been a big change in the view among lenders that we are now closing in on the top of the cycle, with two-thirds of lenders indicating that hotel asset values will peak within the next two years.
An article from Hotel News Now that discusses the survey results can be found at here.
To order a copy of the Hotel Lender Survey, or participate in future surveys, please contact email@example.com.
RobertDouglas is a real estate investment banking firm with offices in New York, Los Angeles and San Francisco that specializes in the sale, financing and equity capitalization of hotel, resort and gaming properties throughout North America. Founded by two of the hotel industry’s pre-eminent finance professionals, Rob Stiles and Doug Hercher, RobertDouglas offers exceptional domestic and international institutional investor and lender relationships. RobertDouglas combines the capital markets sophistication of top-tier investment banks with detailed hotel underwriting and asset management experience, providing the firm with unique capabilities in an underserved market. For more information, contact firstname.lastname@example.org or go to www.robert-douglas.com.