The hotel industry is in the midst of one of the longest up cycles in recent decades. Buoyed by a strong economy and robust demand, the fundamentals of the industry stand on solid footing.
A significant share of a hotel’s profits gets spent on labor, making it the most expensive line item in a property’s budget.
Given the unique nature of hotel operations, in reality they can never stabilize. Hotel facilities are more than bricks and mortar real estate; they are also going business concerns that house extensive amounts of furniture, fixtures and equipment, all of which are inextricably intertwined.
Compared to 20 years ago, the current commercial real estate (CRE) market looks pretty grim.
A strained relationship between the U.S. and Canada represents a mutually assured threat to economic drivers that in turn will exert negative pressure on the demand for hotel accommodations within both nations.
Las Vegas and gambling may seem synonymous in the public consciousness, but the reality is a bit more nuanced. It turns out that "gaming" now accounts for only a third of hotel and casino revenue.
The majority of money earned on the Las Vegas Strip – about 52 percent — comes from food and beverage as Sin City evolves to keep up with changing tastes and strives to remain a destination for Southern California visitors.
Fear of recession always lurks behind a strong economy, particularly during prolonged recovery periods, which the U.S. has been experiencing for what is now almost a decade.
Check out this video to see highlights from Meet The Money 2018.
While the hotel sector is performing well, it’s hardly a time to rest easy and rake in profits, according to hotel experts speaking at the National Association of Real Estate Editors annual real estate journalism conference in Las Vegas. They offered a list of issues to watch.