CBRE, Dallas, reduced its forecast for hotel performance this year as weaker-than-expected summer demand resulted in a shortfall in Q2 2023 revenue per available room.
Tag: Hotels
JLL Notes Hospitality Market ‘Disconnect’
JLL, Chicago, noted a “disconnect” between hospitality fundamentals, which it called exceptionally strong for many assets, and debt markets, which have been deteriorating meaningfully.
Analysts Upgrade Hotel Forecast
STR and Tourism Economics upgraded their recovery timeline for U.S. hotel revenue per available room.
STR: Hotel Construction Pipeline Shrinks But Planning Activity Increases
STR, Hendersonville, Tenn., reported hotel rooms under construction fell from one year ago, but noted properties in the planning stage increased significantly.
Hotel Recovery Likely to Continue
The hotel sector’s recovery that started last year will likely continue despite current operational hurdles, sector analysts reported.
Lodging Demand Could Return to Pre-Pandemic Level By Late 2023
CBRE Hotels, Dallas, said U.S. lodging demand could return to its pre-pandemic level by fourth-quarter 2023.
Hotel Profits Improve as Recovery Spreads
STR, Hendersonville, Tenn., said hotels saw an encouraging April as more revenue flowed through to the bottom line.
Hotel Sector Showing Signs of Life
The hotel sector is coming back–slowly–from its pandemic-related downturn, analysts said.
Hotel Rebound Not Likely Until Second-Half 2021
The recent surge in COVID-19 infections dampened U.S. hotel performance expectations, but news of effective vaccines has bolstered recovery projections beginning second-half 2021, sector analysts said.
Full Hotel Recovery Unlikely Until 2024
STR, Hendersonville, Tenn., and Tourism Economics, Wayne, Pa., slightly upgraded their final 2020 U.S. hotel forecast, but called full recovery in revenue per available room “unlikely” until 2024.