Secondary, tertiary hotel markets saw stronger investor interest in 2013

Investors turned their attention toward secondary and tertiary lodging markets in 2013 in search of properties with strong demand drivers. For example, investment activity in New York declined 40 percent in 2013 compared with the previous year, while hotel transactions reached $573 million in New Orleans, up 8,720 percent from figures in 2012, data from Jones Lang LaSalle‘s hotel and hospitality group show. Strong performance growth by hotels in secondary and tertiary cities and banks’ increasing liquidity have contributed to the investment surge in these markets. Read the HotelNewsNow.com story here.