CHICAGO, IL? Insignia/ ESG Hotel Partners Executive Director Bill Gudenau has announced a record number of hotel transactions in one month. For the month of April, 22 transactions were closed and ranged from the upscale boutique Melrose Hotel in Dallas, to a limited-service motel on Cape Cod. Hotel sales have increased following the ?dry period? of late 1998 and early 1999, according to Jim Burba, senior managing director. ?The hotel transactions field has stabilized, and the ?correction period? which started in mid-1998 appears to be over,? Burba said. ?Greater caution, stringent due diligence and bottom-line investment parameters have become the norm in the hotel sales arena, with small to medium-sized hotels currently representing the lion?s share of deals being completed,? he added. Insignia/ESG is a commercial real estate service provider with brokerage, property management, facilities management, consulting, investment sales and debt placement operations. It is a subsidiary of Insignia Financial Group, a publicly traded real estate company. Insignia/ESG Hotel Partners is part of Insignia/ESG?s Capital Advisors Group, which focuses on investment sales and debt financing for major properties. It is a full service real estate group for the hospitality industry.
