SOURCE : REAL CAPITAL ANALYTICS
right market , they are willing to stretch on pricing to win a deal . They are willing to accept a lower going-in yield for a more predictable cash flow . As we look at our own transaction pipeline , we had significant investor interest in a Marriott portfolio of limited-service assets in Galveston , Texas , where they traded at 15 % over the pricing guidance . A client is also amid active negotiations to purchase a boutique asset in Santa Fe , New Mexico , which received strong investor interest through a targeted marketing process . Another interesting trend that we believe will continue in leisure markets is the increase in full-service asset sales . From the onset of the pandemic , limited-service assets dominated the transaction market . However , looking at just the month of August , full-service hotels experienced a 442 % increase in transaction volume ( US $ 1 billion ) versus a 102 % increase for limited-service hotels ( US $ 700 million ). stands out as one of the most active states . The following data illustrates how quickly investor interest has shifted toward leisure markets . Four out of seven markets below have experienced an increase in transaction volume this year . It is important to point out that data reflects the number of assets sold and the amounts in 2019 versus the number of assets sold and the amounts through the YTD August 2021 period ( eight months ).
With the COVID-19 variants becoming a concern for employers , the return to the office and , ultimately , the return of business travel is unknown at this time . Given this , we expect investors to continue to flock to strong leisure markets over the next twelve months . Based on conversations that we are having with active buyers in the market , the general consensus is that for the right asset in the
SOURCE : REAL CAPITAL ANALYTICS
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