Hotel deals flourish on Gulf Coast

Last week in this space we addressed the seemingly endless appetite investors and developers appear to have for apartments along the Gulf Coast. This week we'll focus on another apparently bulletproof asset class of this cycle: hospitality.

Fueled by tourism gains, population and job growth and increases in consumer discretionary spending, hotels have been a commercial real estate darling during this recovery — especially in Florida.

Perhaps the most notable transaction of the year — to date — was the early July sale of the 520-room Tampa Hilton in downtown Tampa. That $101 million acquisition by CrossHarbor Capital Partners marked just the fourth time in the region's history that a lodging property traded for nine figures.