Wells Fargo: COVID-19 ‘Major Challenge’ to CRE

Wells Fargo Securities, Charlotte, N.C., said it expects real GDP to contract sharply in the second and third quarters due to the coronavirus pandemic, presenting a “major challenge” to commercial real estate.

Hotel RevPAR Forecast to Flatten

The hotel sector might see zero revenue per available room growth this year for the first time since 2009, said STR, Hendersonville, Tenn., and Tourism Economics, Wayne, Pa.

Hotel Pipeline Up 5.5% YoY

STR, Hendersonville, Tenn., said the U.S. hotel pipeline reached 205,000-plus rooms under construction in October, up 5.5 percent compared to a year ago.