Marriott International announced deals with two hospitality brands whose focus is on outdoor-centric accommodations. In doing so, Marriott said it would be launching an outdoor collection next year that is expected to be conversion friendly. The deals include the acquisition of the Postcard Cabins brand, formerly known as Getaway House and the execution of a long-term agreement with Trailborn.
New York City lawmakers are proposing a bill that would walk back some restrictions on hosts of Airbnb properties and other short-term rentals. If enacted, the bill could meaningfully boost listings, which dwindled to about 3,700 last month, compared with nearly 23,000 in January 2023.
For 2024, U.S. RevPAR is expected to increase by 1.4% to $99.57, driven by ADR growth of 1.6% to $158.53 while occupancy declines 0.3% to 62.8%. The forecast for 2025 U.S. RevPAR projects an increase of 2.7% to $102.29, driven by ADR growth of 2.7% to $162.85 while occupancy remains at 62.8%.
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.
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.
Funds targeting hotel assets reached $10B in YTD Q3 2024, an increase of 19% from the same period in 2019.
RevPAR growth is projected to improve in the second half of the year, increasing by 2% compared to only 0.5% in the first half of 2024.
In 2019, 13% of reporting hotels in the top 25 U.S. markets charged an average daily rate of at least $200, in 2024, that figure is just over 20%.
