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Originally seen HERE. The hospitality industry’s recovery from recent global challenges has reshaped financing needs. Hotels now seek capital not just for traditional expansions, but also for technological upgrades, sustainability initiatives, and operational enhancements. This shift demands a nuanced understanding of both traditional and alternative financing sources. As we delve into the Continue Reading about Banks Vs. Private Lenders: Reshaping Hotel Financing in 2025

Hotel customers are savvier than ever, and they expect more from their stay, whether they are indulging in a luxury resort stay, expanding their horizons with a lifestyle property, or opting for budget, select service and mid-range properties. And hotel managers and teams across the spectrum need to get creative and proactive in the way they go about it. This was a consensus shared by the Continue Reading about HM on Location: Strategies to increase customer satisfaction

Originally seen HERE. AAA projects 119.3 million people will travel 50 miles or more from home over the year-end holiday period* from Saturday, December 21 to Wednesday, January 1. This year’s domestic travel projection narrowly surpasses the previous record set in 2019 by 64,000 travelers. AAA expects an additional 3 million travelers this holiday season compared to last year.  “This Continue Reading about Record Number of Holiday Travelers Expected to Close Out 2024

This post originally seen HERE. The million-dollar question is: how will the hospitality industry continue to evolve and grow with the application of emerging technologies? To help answer this, let’s talk about the elephant in the room: artificial intelligence. With such a broad term and admittedly today’s buzzword, let’s start by answering, “What is AI?” Simply stated, AI refers to the Continue Reading about How can the hospitality industry leverage AI?

Originally seen HERE. AAA projects 79.9 million travelers will head 50 miles or more from home over the Thanksgiving holiday travel period*. For the first time, AAA’s forecast includes the Tuesday before and the Monday after Thanksgiving Day to better capture the flow of holiday travelers. This year’s projection of nearly 80 million travelers is an increase of 1.7 million people compared Continue Reading about Nearly 80 Million Americans Expected to Travel over Thanksgiving

Originally seen HERE. For the first time in four years, the Federal Reserve has cut interest rates. The half-percentage-point cut was welcome news to the industry, which has seen relatively high rates as one cause of a slowdown in hotel transactions. Hotel Business reached out to industry leaders to get their reaction to the rate cut and what it means for the long and short term. Here’s Continue Reading about Fed cuts interest rates; Industry reacts

Newport News, VA, June, 2024 – Mumford Company, a full-service hospitality brokerage advisory firm since 1978, announced today it has continued its strong sales performance in the first half of 2024, with multiple transactions closing in the second quarter. "Even with the current state of interest rates, the hospitality industry fundamentals are strong which continues to drive transactions,” Continue Reading about Mumford Company Continues Strong Sales Through 2nd Quarter 2024

Originally seen HERE. Despite some softening in the second quarter, the revised forecast by STR and Tourism Economics calls for slight adjustments to ADR (downward) and occupancy (upward) for the next 18 months. NASHVILLE — With many public hotel companies and REITs slashing RevPAR forecasts for the rest of 2024, one might expect industry forecasters to lower their RevPAR guidance, too. Continue Reading about STR maintains forecast of slight RevPAR gains

Originally seen HERE. The current hotel development market has been faced with escalating construction costs for several years, including but not limited to high interest rates, difficulty finding financing, long material lead times and labor shortages. Historically speaking, construction costs have increased at a pace of about 5 percent per year, which has always been above inflation, as Continue Reading about How to combat challenging construction costs

Originally seen HERE. This summer, most Americans seem to prioritizing budget-friendly destinations, owing to the ongoing economic conditions, a recent survey has found. According to a latest Summer Travel Trends report by Vacasa and Allison, the marketing and communications consultancy, travelers will be taking several trips (five on average throughout summer) and most will be staying Continue Reading about Americans prioritizing budget-friendly travel destinations this summer: Vacasa survey

originally seen HERE. Hospitality investors are facing a slate of “persistent challenges,” but long-term optimism remains, according to a panel of experts speaking at the NYU International Hospitality Industry Investment Conference in New York on Monday. Chief among the headwinds slowing progress are inflation and the cost of finance, according to Tim Abram, managing director, Starwood Continue Reading about HM on Location: Challenges remains for investors, but outlook robust

Originally seen HERE. Convening at the Marriott Marquis in New York City, the 46th Annual NYU International Hospitality Industry Investment Conference is themed “Driving Alpha” to express a positive outlook on the hospitality industry, tempered by recognizing ongoing challenges. In his opening remarks today, Jonathan Tisch, CEO of Loews Hotels, noted, “We face challenges like everybody else, Continue Reading about 46th NYU Hospitality Conference Opening Talks Highlight Labor Challenges and Opportunities

Originally seen HERE. In the “Economic Overview” wrap-up session of Meet the Money 2024, Paul Single painted a rosy picture of the travel and hotel industries. According to the senior economist and managing director of City National Bank Rochdale, the economy is strong, employment in the industries has regained its footing, and consumers, particularly Baby Boomers, have more disposable income Continue Reading about HM on Location: Meet the Money—Who’s financing now?

Originally seen HERE.As real estate brokers, one of the most frequent questions we field is “how much is my property worth?” The value of each property can vary depending on who is considering it—the owner, the lender and the buyer, as well as other entities involved in the financial life of a property, may all have a different perception of value. The fair market value of a hotel is defined as Continue Reading about How much is my property worth? Determining fair market value