Fundraising for hospitality-specific real estate funds has decreased dramatically since 2014, when eight vehicles attracted more than $5 billion, according to PERE data.
However, with many hotel transactions occurring within sector-agnostic funds, or outside of fund structures, such a reduction only provides a glimpse of general institutional demand for the asset class.
Real Capital Analytics, the real estate transactions research firm, has also tracked falling investment volumes. Since 2015, when nigh-on $90 billion of hotels traded, there has been a 37.2 percent decrease in just two years.
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