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Peachtree Group’s Michael Bernath admits that a bid-ask spread will always exist, but over the course of 2024, he’s seeing it heading in the right direction.

“I believe that the market, to a point, has baked in some monetary stance here more recently and that’s more based off [what I’m seeing] on the financing side,” said Bernath, senior vice president of acquisitions and dispositions for Atlanta-based Peachtree Group.

Hotel Investment Today talked to Bernath following Peachtree’s sixth acquisition of 2024, the 100-key AC Hotel by Marriott in Park City, Utah, from an undisclosed seller for an undisclosed amount. Peachtree’s other acquisitions in 2024 include the 128-key Residence Inn by Marriott in Wesley Chapel, Florida; the 114-key Residence Inn by Marriott in Oakhurst, New Jersey; the 146-key Home2 Suites by Hilton in Falls Church, Virginia; the 130-key Home2 Suites by Hilton in Lawrenceville, Georgia and the 180-key Hilton Garden Inn in Denver.