News: Front Section
Posted: December 29, 2017
2017 Annual Review: JP Ford of New England Hotel Realty
What was your greatest professional accomplishment in 2017? In 2017, we focused our efforts on enhancing the New England Hotel Realty (NEHR) brand in hospitality brokerage. Our positioning successfully delivered us many new opportunities. With new opportunities and with over forty years of professional brokerage experience, we were able to complete the transactions successfully.
What was your most notable project, deal, or transaction in 2017? In 2017, I participated in the sale of a larger branded hotel in the Providence market. NEHR worked closely with the seller to accomplish his goal of selling the hotel in a timely manner – and for the highest possible selling price. This helped to free up his time so he could move on to other interests.
What are your predictions for commercial real estate in 2018? In the hospitality sector, we expect transactions to increase because market conditions are currently quite favorable for both buyers and sellers. On top of strong valuations, interest rates are low, operating performance is strong, and new supply is relatively benign. All of these factors indicate that this is a great market for both buyers and sellers, and at NEHR we are excited to see what 2018 brings.
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