While daily rates, revenue, and property values are all likely to return to pre-pandemic levels and even eclipse them the hotel industry’s labor market faces permanent changes. Other industries like retail offer more competitive wages to hotel workers with easily transferrable skills.
But investors don’t seem to mind that swelling operational issue. There’s only about a 60-lender gap between today’s market and the pre-pandemic one in the U.S., according to CBRE’s “U.S. Hotels State of the Union” report.
“The expedited return of capital to the market is faster than what we’ve seen historically,” said Mark Owens, head of hospitality capital markets at CBRE Hotels. “This is a far better return of liquidity to the market than we’ve seen historically for hotels, so that bodes really well for all of us.”
HOSPITALITY OUTLOOK 2021 Hotel Performance, Capital Markets, and Consumer Behavior – Hospitality Net
hospitalitynet.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hospitalitynet.org Daily Mail and Mail on Sunday newspapers.
CBRE recruits trio to focus on Mid Atlantic, D C , hotel sales - Washington Business Journal
bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.