The average value decline for hotels has been about 20%, according to CBRE. The steepest declines have been in high-end properties. That matches up with data from San Antonio-based Source Strategies Inc., which reported Dec. 3 that revenue at Texas hotels in the third quarter was down more than 40% from a year prior. In the luxury and upscale segments, revenue was down 70% and 72%, respectively, according to Source Strategies.
Source: Hyatt Place in N. Austin sells at auction; Deal brokered by CBRE, Ten-X – Austin Business Journal