Colliers Report: South Carolina hotels prove stability
August 18, 2021
Commercial Real Estate Research & Forecast Report
Market Highlights
Leisure and transient travelers helped boost South Carolina hotel activity and bolster the hotel market beyond expected recovery numbers. High-volume activity will continue through the summer months, as families continue to travel to destination locations throughout South Carolina.
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Key Takeaways
- Occupancy, ADR and RevPar rates will continue to rise through the summer
- South Carolina is a healthy market for hotels as evidenced by stability during and after the pandemic
- Staffing was the biggest challenge during the second quarter of 2021 for hoteliers-they are finding it difficult to meet immense demand needs
Summary
Transactions picked up during the second quarter of 2021 because South Carolina hotels proved to hold value and stand strong, in comparison to the national hotels, even in the slowest months during the pandemic. Buyers are more interested in secondary and tertiary markets for their stability.
About Zaver Hotels Team
The Zaver Hotels Team of Colliers spans several offices in the southeast and covers the region east of the Mississippi River. Our team has sold a large range of hotel assets including full and select service, limited, and extended-stay products. We have over 45 years of combined experience to help with our clients’ goals for the future. The Team is experienced in Franchise Negotiations, Financing, Re-Branding, and Marketing from start-up properties as well as turn-around investments. Our clients incude large private and public REITS, Management Companies, Lenders and Servicers as well as Owner/Operators of hotel properties throughout the United States.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
