Hotel sellers gauge appetite for city-center properties

Hotel sellers are beginning to test investor appetite for city-center properties that cater to business travelers, such as the recent marketing of Chicago’s Drake Hotel. Many of the sector’s recent sales have focused on resort properties, such as Host Hotels & Resorts’ $610 million deal for the Four Seasons Resort Orlando and Sunstone Hotel Investors’ $265 million purchase of the Montage Healdsburg in California wine country.