Commercial real estate financing, particularly related to the hospitality industry, has been in a state of flux as the pendulum of the economy swings towards a correction. This article describes the state of the current hotel lending environment in the U.S.
Following the impact of the COVID-19 pandemic, Atlanta has continued to thrive as the commercial locus of the Southeast as well as a major leisure destination. The ongoing expansions of the Georgia World Congress Center Authority campus and Hartsfield-Jackson Atlanta International Airport, coupled with increases in tourism and commercial development activity, should support continued recovery within the Atlanta lodging market.
After bottoming out from the effects of the pandemic in April 2020 and facing consistent challenges throughout 2020, Cleveland’s hospitality industry has been steadily recovering throughout 2021 and 2022. A full recovery is expected by 2024, led by strong leisure demand and the return of meeting and group demand.
Salt Lake City has historically played second fiddle to larger Rocky Mountain cities such as Denver; however, a new convention hotel, a multimillion-dollar airport expansion, and the state's popularity as a leisure destination in both the summer and winter have elevated Salt Lake City's position from a regional to a national player for hotel investment.
Since the onset of the COVID-19 pandemic, the Coastal Maine market, including Portland, has experienced a renaissance of leisure travel. This seasonal drive-to market has remained a stalwart of the New England region, while corporate and group-focused urban cores have been slower to rebound. Pent-up demand has catapulted Coastal Maine markets beyond pre-COVID peaks. This article highlights the market’s triumphs and challenges in recent years.
Boston’s hotel market came up strong in 2022, exceeding expectations. Despite anticipated recessionary impacts in 2023, a full recovery is on the horizon for this market.
This report looks at the evolution of UK inflation over the last 50 years and discusses how ADR in London hotels has responded.
Is it time for the Indian hotel industry to pursue a well-defined localization strategy, given changing consumer preferences and market dynamics? Continue reading to learn more.
Revenue managers should think like options traders. The COVID-19 pandemic and subsequent recovery taught hotel operators that average daily rates can be extremely volatile. Revenue-management strategies focused on total guest spend can help mitigate the risk involved in achieving RevPAR share through a high ADR. Management companies need to incorporate techniques and practices to evaluate all possible revenue-generating strategies.
Despite increased efforts, the Indian hotel industry's sustainability initiatives are still limited to hotel operations. Hotels are often criticized for their conspicuous consumption and a concerted effort to reduce consumption and waste across the board is now needed. Read on to know more.