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.
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.
Compared to 20 years ago, the current commercial real estate (CRE) market looks pretty grim.
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.
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.
Whether a GM rises from within a management company’s ranks or joins a hotel from a different company, the management groups look for some key factors when selecting a property’s next leader.