Global hotel investment activity strengthened in the past three months, with year-to-date Q3 liquidity reaching $40.9 billion, an increase of 10.2 percent relative to 2023.

Sales of bonds backed by the riskiest auto loans to subprime borrowers hit nearly $40 billion this year through October, up 17% from all of 2023.

The spread between hotel and commercial real estate (x hotels) cap rates expanded to 4.44% in 2020 then compressed to 2.44% by Q1 2024. The long-run average since 2001 equals 2.98% indicating a normalization of hotel investment risk.

Marriott International Inc. has started eliminating corporate jobs across the globe as part of a larger restructuring aimed at trimming annual expenses by as much as $90 million.

Thirty years ago, Americans with a college degree accounted for roughly 20% of the population and held the same percentage of household wealth as those without a degree. Today, Americans with a college degree account for 38% of the population and 73% of household wealth.

After strengthening nearly 3% since Election Day, the greenback was recently trading at a roughly two-year high.

The Labor Department on Wednesday reported that consumer prices in October rose 2.6% from a year earlier. That marks a pickup in the pace of inflation from September, when the consumer-price index was up 2.4% on the year. Core prices, which exclude food and energy items in an effort to better reflect inflation’s underlying trend, were up 3.3% from a year earlier.

Funds targeting hotel assets reached $10B in YTD Q3 2024, an increase of 19% from the same period in 2019.

National RevPAR of $102 is up 1.2% to 2023 and up 14.3% to 2019, the highest YTD Q3 in U.S. history.

Fed funds futures prices now imply a roughly 25% chance that the Fed will leave rates unchanged at the December meeting rather than cutting again, up from 14% a month ago.