Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell
Banker Commercial brand.
Airbnb has made a significant impact on the hospitality and tourism industry since its inception in 2008. However, due to the pandemic, global tourism experienced an unprecedented decline of 70 percent, leading to a significant transformation in the patterns and preferences in travel overall.
Although experts acknowledge the lack of clarity on pricing and the uncertainty about current market conditions due to inflation, rising interest rates, and supply chain disruptions, there is an overall optimism that this recession will not last long and that inflation is at its peak in most markets.
Worldwide, the hotel and resort industry peaked at $1.52 trillion in 2019. Following the travel restrictions during the pandemic, the industry is still in recovery mode. Unsurprisingly, the market decreased significantly in 2020 and 2021 – dropping below $1 trillion.
As 2022 ends, investors show a marked shift to bearish sentiments on the CRE market's future.
CBC's mid-year economic outlook discusses American economy impacts on CRE with NAR's chief economist.
The U.S. travel industry welcomed all vaccinated international visitors back to the Country after 19 months of pandemic-related border restrictions. This long-anticipated milestone marks the rebuilding of international inbound travel at air, land, and seaports of entry and across destinations nationwide.
As many states begin setting schedules for lifting their COVID-19-related shelter-in-place orders, businesses across the United States are starting to think about what that means for the company. Make no mistake: experts predict the world will never be the same again after this pandemic.
The global hospitality game is changing fast. As the hotel scene is striving to provide guests with transformative experiences, CRE is paying attention to these 6 hot trends. Keep an eye out for these upcoming hotel evolutions.
Though some have suggested fears surrounding impending trade wars and increased importance on the protection of American assets remaining American, The United States remains the largest receiver of Foreign Direct Investments.
Of all of the innovations sweeping through CRE this year, perhaps no sector expects to see a bigger wave of change than the hotel space. Like all other sectors of the CRE industry, technology is at the heart of these changes.