Hunter Realty Sells or Places Under Agreement 18 Hotels in Last Four Weeks

Deal Flow Accelerating as Hotel Economy Begins to Stabilize

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May 24, 2010, 08:58 ET

ATLANTA, May 24 /PRNewswire/ -- Hunter Realty, a leading national hotel investment services firm, today announced that it had sold or placed under contract 18 hotels in the last four weeks.

"There are definite indications that positive changes are on the horizon," said Teague Hunter, President. "We are placing hotels under agreement and closing on deals at a much heavier and quicker pace than in recent months."

"We see more lenders starting to take action on their troubled hotel loans," said Lee Hunter, COO. "This action by lenders appears to be the start of a new wave of properties coming to market."

"Despite substantial headwinds, people are feeling optimistic. Pricing power is coming back and consumer confidence is returning," said Teague Hunter. "There are assets in the full-service and upscale segments, which have been on the sidelines, now becoming available."

Hunter has six offices nationwide and the 18 properties under agreement or sold are located across the country and range from small limited service properties to 150-plus-room, full-service hotels.

"We have a comprehensive understanding of local market conditions, financing opportunities and qualified buyers. Financing for these hotels was varied and ranged from all-cash to community banks and SBA loans," Teague Hunter added. "We expect that as the recovery continues and lenders are able to bolster their balance sheets, loans will become more readily available.

"Deals are out there and through our long-standing relationships in the hotel finance industry, we are able to help our buyers obtain the financing they need. More money is coming to the market every day. The majority of the dollars are all chasing the same product; newer, better branded assets in high barrier to entry (top 25 MSA) markets. Values for these assets will remain surprisingly high. There are deals to be made all over the country."

Hunter Realty, founded in 1978, has offices in Atlanta, Washington, D.C., Los Angeles, Chicago, Dallas and Minneapolis. The firm's exclusive focus is in hotel brokerage and financing. For more information or to visit current listings, please visit www.hunterhotels.net or contact Teague Hunter at 770-916-0300 in Atlanta.