Hotel transactions in the United States continue to boom thanks to a steady economy and favorable outcomes from tax-law changes.
The LW Hospitality Advisors (LWHA) Q3 2018 Major US Hotel Sales Survey includes 57 single asset sale transactions over $10 million, none of which are part of a portfolio.
While few are anticipating a major market crash, the duration, depth of a prospective economic recession and risk of a downturn is higher now than it has been for more than five years.
High levels of US consumer and business confidence are being fueled in part by low unemployment rates and rising wages both of which continue to have positive effects on the demand for US hotel room night demand.
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.
Amid increasing government pressure to limit exposure to foreign investments, several Chinese companies are now attempting to quickly sell off their U.S. commercial real estate assets.
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.