July 20, 2016
Irvine, CA-based Ten-X reported its hospitality division has sold 50 assets totaling nearly $200 million on its commercial online platform, so far in 2016. That momentum follows a record-setting 2015, where the company closed 117 hotel transactions with sales proceeds exceeding $461 million, nearly double its 2014 hospitality performance of $256.3 million.
Ten-X’s Anthony Falor says, “The effectiveness of the Ten-X online platform is evident in a strong first five months of 2016, which follows the same success we had in 2015 selling high-quality hospitality assets.”
The company says activity is coming from large, full-service and boutique properties to select service assets as more investors and brokers adopt the Ten-X platform. The marketplace now provides greater flexibility and control via a newly launched non-auction Offer Select format, in addition to the signature live bid format.
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