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Originally seen HERE. Mumford Company, a full-service hospitality brokerage advisory firm since 1978, has completed a number of deals this year to close a robust third quarter. In the last few weeks, the firms closed several deals representing a broad range of property types throughout the U.S. “Despite high-interest rates, inflation, elevated insurance premiums and widespread economic Continue Reading about Mumford Company Reports Strong Q3

Originally seen HERE. How can two people look at the same economy but interpret it so differently? To Peter Linneman, economist and former professor at the Wharton School of the University of Pennsylvania, the phenomenon is like two people standing before the same painting, except one of them is viewing the complete canvas from a distance while the other is up close and squinting to make Continue Reading about Peter Linneman On How To Make Sense Of Today’s Economy

Originally seen HERE. As expected, U.S. hotel performance from Sept. 24-30 was lower than the previous week, but year-over-year comparisons were improved, according to CoStar’s latest data. For the week (percentage change from comparable week in 2022): Occupancy was up year over year on the positive side of the Rosh Hashanah calendar shift. At the same time, the Yom Kippur observance Continue Reading about U.S. weekly hotel results: Sept 24-30

Originally seen HERE. Hurdles include bid-offer spreads, the interest rate plateau and relative reality checks. Triggers may come in the form of debt deadlines, ROI reviews and icebreaker action. Dealmaking in the hotel and hospitality sector is in a funk. No one can predict with any certainty when activity will return to normal or, indeed, know what the new normal will look like. That said, Continue Reading about M&A: Three hurdles and triggers

Originally seen HERE.Travel continues to move in a positive trend, according to the Mews Data Snap, a real-time measure of hospitality’s performance during the summer of 2023 (June, July, and August). The report compares this year’s data to summer 2022 to pinpoint how the hospitality sector is changing. Based on data from Mews partners worldwide, the Mews Data Snap consists of hospitality’s Continue Reading about Summer ADR and RevPAR saw positive movement

Tripadvisor released the next in its Seasonal Travel Index series, revealing data and trends about what to expect for travel this fall. Although the popular summer vacation season is coming to a close, travel doesn’t appear to be fading with it: 74 percent of U.S. travelers surveyed report they will travel this fall, well above the 61 percent planning to travel at the same time last year. Continue Reading about Tripadvisor: U.S. Travel to Remain Strong This Fall

Originally seen HERE. Despite rocky economic conditions and pressures within organizations to cut down on travel costs, business travel is making an unexpected and robust comeback. According to Capterra’s 2023 Travel Survey, 46% of business travelers report going on more trips than before the pandemic—on average, they travel six times a year, with trips lasting about three days. Increased Continue Reading about Survey: Business travel jumps 46% compared to pre-pandemic

Absolute Occupancy Best Since August 2019, but Trails That Year’s Peak Week By Nearly 5% Originally seen HERE. Weekly occupancy across the U.S. hotel industry reached its likely peak of the year — and the best since August 2019 — while outside of the U.S., the high mark keeps getting higher. CoStar data for the week ending July 22 shows U.S. weekly occupancy was 72.9%, the highest level Continue Reading about It Likely Doesn’t Get Any Better for 2023: US Weekly Hotel Occupancy Peaks at 73%