After Setting a Record, Hotel Land Sales Likely To Suffer From Banking Crisis Fallout

Investors continued to purchase land for the construction of new hotels and motels, according to 2022 CoStar transaction data. This category of land sales decreased to under $1 billion in 2020 but has since recovered and the sales volume exceeded $2.5 billion in 2022, eclipsing the total in 2015 and 2019 when the previous high-water mark was set with total sales volume for hotel sites of just under $2.3 billion.