Last year was a record-breaking one for the United States hotel industry in terms of key performance metrics as well as supply and demand.
The hotel industry’s knight in shining armor isn’t generating the massive profit surplus operators were expecting.
With the rise of services like Airbnb that feature vacation homes rented by owners, travelers have more varied lodging options than ever before. This industry development has had a measurable effect on the profitability of hotels.
Hotel transactions in the United States continue to boom thanks to a steady economy and favorable outcomes from tax-law changes.
Buoyed in part by a strong stock market, the 400 wealthiest Americans delivered yet another record-breaking year.
New York hotel occupancy rates and revenue per available room are ticking upward, indicating there are good days ahead for the city's densely supplied hotel sector.
American Realty Capital New York City REIT, Inc. ("NYCR"), a public non-listed REIT which owns a $754 million portfolio of office and retail condominium buildings in New York City, announced today that it has entered into five new leases totaling approximately 33,427 square feet at 9 Times Square (200 West 41st Street) in Manhattan.
The pace of hotel deals is up in 2018, and independent hotels are finding their place on the pie chart.
The significant cost of providing hotel shuttles is prompting some hoteliers to reconsider offering the amenity at all, while at other properties, shuttles are a positive revenue driver.
U.S. hotel demand may be at record highs, but that doesn’t mean residents in every part of the country are excited to see hotel projects breaking ground in their backyards.