National hotel investment surges amid high demand

The national hotel sector is showing significant improvement, with surging demand, according to a second-quarter report from Marcus & Millichap. The positive changes are coming from increased investment, as revitalized asset performance and light construction are pushing investors to acquire new properties. Hotel occupancy is projected to increase 100 basis points in 2012 to 61 percent, the highest year-end level since 2007. The average daily room rate is projected to increase 4.3 percent this year. — Alexander Britell