Hotel Sales Ticking up in the Valley as Market Recovers From Pandemic

Article originally posted on Phoenix Business Journal on January 10, 2022

Despite the blows the Covid-19 pandemic dealt to the hospitality industry, investor appetite for hotel properties in Phoenix is strong, a Valley expert said.

“We have one of the strongest lodging markets in the country,” Jennifer Bergamo, vice president for CBRE Group Inc. in Phoenix said. The Phoenix market has been one of the fastest to recover from the pandemic, and in November, Valley hotels reached an average of 71.3% occupancy, the highest level since the onset of the pandemic.

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