“Certares’ Nolan Hecht Sees Prime Opportunity for Hotel Acquisitions in 2024”

Certares’ Nolan Hecht believes that this is one of the best hotel acquisition periods in decades, and he has the acquisitions to back it up. With the recent purchase of the Carté Hotel San Diego Downtown and the Hilton Boston Back Bay, Hecht is confident in the current market dynamics.

Hecht points to high-performing markets like San Diego and Boston, which have limited new supply but strong demand, as key factors in his optimism. Additionally, he notes that many investors are holding onto assets longer than anticipated due to the impact of COVID-19, creating potential opportunities for acquisitions.

Certares has partnered with HHM Hotels on multiple deals, with Hecht praising HHM for their management style. He sees more deals on the horizon, as lenders are eager to finance the right opportunities. Hecht expects to see three to four more deals for Certares in the next 12 months, as long as the current market dynamics hold.

Overall, Hecht is confident in Certares’ position in the market, noting that they play in a unique space between mega funds and regional owner-operators. With a strong pipeline of deals and access to capital, Certares is poised for continued success in the hotel acquisition market.