US cities across the country will lose millions, and in some cases billions, of dollars in revenue in 2021 as far fewer people travel for business than before the outbreak of the coronavirus pandemic, new data finds.
Hotels might be down now, but they will be back. It’s simply in their nature.
The hospitality sector was devastated in 2020, but vaccinations, industrywide efforts, and returning demand are reasons for hope.
Proposed legislation pushed by New York City Mayor Bill de Blasio isn't expected to cause immediate challenges for hotel developers, but could stall future development at a time when new hotel rooms are needed in the market.
The legal system is the unsung hero of the commercial real estate industry, especially in times of strife.
It’s no secret that in the age of social distancing and travel bans, the hospitality industry is hurting, but real estate industry professionals are seeing long-term potential, especially in New York City.
After a dour 2020, the pace of deals in the U.S. hotel industry is expected to pick up this year, even if it doesn’t quite reach the record levels set in 2019.
The U.S. hotel sector continues to add jobs since its worst-performing month of April, but there are likely a rough few months ahead for unemployment until a vaccine is in widespread distribution.
Immediate shocks to New York City's hotel industry are morphing into long-term pain as hotel operators confront the reality that a real recovery isn't coming this year.
Short-term rentals may be outperforming the hotel industry through the peak summer leisure season, but a fall downturn in family vacations could extend the drag on performance to platforms like Airbnb and Vrbo.