Hotels

The U.S. added 339,000 jobs in May, far exceeding consensus estimates of 190,000. March and April job numbers were revised up by a combined 93,000.

According to CBRE’s February 2023 Investment Performance forecast, total revenues for the average U.S. hotel returned to 2019 levels in 2022.

Sustainability is an increasingly crucial component across almost all industries.

What a difference a year makes – in the 2022 edition of Trends® in the Hotel Industry, we wrote that major markets were still attracting developers.

A Pictorial Update on Our Latest Thoughts and the Facts and Figures Influencing Our Industry

Once a typical government town, Sacramento has transformed into a destination for companies seeking relocation – and workers searching for greener pastures. Sacramento’s former dependence on government employment has been displaced by new industries in the region including tech, life sciences, mobility, and agriculture. Both household names and rising start-ups alike continue to indicate their desire for headquarters and satellite operations outside of traditional industry hubs, including the Bay Area and Los Angeles. In 2022, Sacramento was ranked as the #1 best place to live in California. Additionally, Sacramento was also ranked as the #3 most diverse city in the country. Due to the influx of residents seeking relocation, the region has seen a boom in both multi-family and residential development. The city of Folsom plans to add 10,000 homes and 40,000 residents by 2025, indicating the strong market health of outlying suburban submarkets. The Downtown/Midtown core has also seen significant multi-family growth with the delivery of The Mansion, 17 Central, and Lavender Courtyard which added 350 units of inventory. The diversity of housing options in the Sacramento area creates an attractive and promising market that will continue to see demand across all housing types.

The U.S. added 253,000 jobs in April, well above the consensus expectation of 180,000.

For the first time since the onset of the COVID pandemic, CBRE is forecasting the 2023 aggregate revenue per available room (RevPAR) for the nation’s 65 major markets to return to 2019 levels.

Global commercial real estate investment volume fell by 55% year-over-year in Q1 2023 to US$147 billion.

Once a typical government town, Sacramento has transformed into a destination for companies seeking relocation – and workers searching for greener pastures. Sacramento’s former dependence on government employment has been displaced by new industries in the region including tech, life sciences, mobility, and agriculture. Both household names and rising start-ups alike continue to indicate their desire for headquarters and satellite operations outside of traditional industry hubs, including the Bay Area and Los Angeles. In 2022, Sacramento was ranked as the #1 best place to live in California. Additionally, Sacramento was also ranked as the #3 most diverse city in the country. Due to the influx of residents seeking relocation, the region has seen a boom in both multi-family and residential development. The city of Folsom plans to add 10,000 homes and 40,000 residents by 2025, indicating the strong market health of outlying suburban submarkets. The Downtown/Midtown core has also seen significant multi-family growth with the delivery of The Mansion, 17 Central, and Lavender Courtyard which added 350 units of inventory. The diversity of housing options in the Sacramento area creates an attractive and promising market that will continue to see demand across all housing types.

When I first started out in hotel brokerage back in the late 1980s, the market was unsophisticated and had not adopted the fiduciary focus that was required to establish trust.

Hotel guests, investors, owners, employees, and brands worldwide are displaying a growing interest in responsible environmental practices, sustainable tourism, social welfare, corporate governance and transparency.

RevPAR has recovered in most regions and should continue to grow in 2023, bolstered by pent-up demand.

Global commercial real estate investment volume fell by 60% year-over-year in Q4 2022 to US$226 billion.

Visitors from China and Japan account for a sizeable share of international travelers into the U.S., but in recent years COVID-induced travel bans caused trans-Pacific travel to nearly halt.

CBRE recently surveyed more than 500 commercial real estate professionals about the relative importance of Environmental, Social and Governance (ESG) criteria in their real estate strategies.