Report Paints a Grim Forecast for U.S. Hotels
Global real estate giant CBRE released an updated 2020 forecast Tuesday in light of the COVID-19 pandemic, projecting a 37 percent decline in U.S. revenue […]
Hotels & Timeshares
Short Term Rentals will Continue to Encroach on Hotel Business in 2020, Says CBRE
The U.S. Short Term Rental (STR) industry will expand to roughly 650,000 actively rented units this year, equal to 12.2% of the country’s hotel-room supply, […]
Updates from the Hospitality World: Airbnb, Wyndham and Others
Airbnb COO Leaves Position Amid $100 Million Quarterly LossHome-sharing company Airbnb lost $100 million in Q2 2019 compared with a $10 million profit in the […]
Blackstone Group to Buy the Bellagio Hotel for $4.25 Billion
MGM Resorts International on Tuesday announced it will sell its Bellagio Hotel and Casino in Las Vegas to the Blackstone Group, and then lease back […]
The Average Daily Rate for U.S. Hotel Rooms Reaches $133.36, Says STR
The U.S. hotel industry reported mostly negative year-over-year results in the three key performance metrics during the week of 4-10 August 2019, according to data […]
Airbnb’s Revenue Grows 31 Percent from Last Year
Home-sharing company Airbnb reported $9.4 billion in gross bookings during Q1 2019, according to information obtained by the Wall Street Journal. This represents an impressive […]
Airbnb Targets Business Travelers by Acquiring Urbandoor
Airbnb has acquired Urbandoor, an online marketplace where business travelers can find furnished and serviced apartments for extended business trips, relocations and other longer-term stays, […]
Airbnb Estimates its 2018 Global Economic Impact at $100 Billion
Airbnb is reporting its guest community has generated more than $100 billion in estimated direct economic impact across 30 countries in one year. According to a […]
Hotel Occupancy Expected to Soften
According to CBRE Hotels Research’s latest report, the U.S. lodging supply will increase at an annual pace greater than the long-run average through 2022. Meanwhile, […]
JLL Terminates $2 Billion in Management Contracts with Brunei-Owned Group
Global real estate firm Jones Lang LaSalle (JLL) took a firm and unequivocal stand in defense of human rights last week, when it severed ties […]