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Despite Optimistic Hotel Industry Outlook, Sales Still Have Not Started in Earnest

Transaction Pace Expected To Pick Up in the Second Half of 2024
Brookfield Hotel Properties sold two-thirds of the ownership of the Ritz Carlton Key Biscayne, Miami, to Gencom for $400 million, or just under $1.4 million per key in the first quarter. (CoStar)
Brookfield Hotel Properties sold two-thirds of the ownership of the Ritz Carlton Key Biscayne, Miami, to Gencom for $400 million, or just under $1.4 million per key in the first quarter. (CoStar)
CoStar Analytics
April 2, 2024 | 2:00 P.M.

About $4 billion in hotel transactions took place in the first quarter of 2024 — the lowest dollar volume for the quarter since 2010.

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