The hospitality industry continues to dominate national headlines, with major growth, disruption and uncertainty. There have been several opportunities within the real estate market to innovate the traditional brick-and-mortar hospitality experience. CBRE's 2019 U.S. Hotel Forecast findings propose a variety of outlooks: - 2019 is predicted to mark, as slight as it may be, the 10th consecutive year of rising occupancy in hotels, with a .02% increase in the national hotel occupancy level. - New lodging supply level in 2018 will spur a decline in 2019 in occupancy for 47 local markets where there has been a local average of 3.8% increase in hotel supply. - ADR (average daily rates) are forecasted to be below their 2019 average, despite occupancy levels predicted to be at or near all-time highs. - The correlation between health of the national economy and hotel industry will continue into 2019, with both forecasted to be relatively stable in 2019 - Hotel operators and developers are encouraged to "think local" when it comes to budgeting for 2019: As local economic markets shift and events occur, trends can vary from city to city As the hospitality industry evolves to keep up with industry demands, how can hotel leaders, hospitality experts and real estate executives work together to deliver quality experiences while maintaining a valuable return on investment? Join us this August to find out at our annual Denver Hotel & Lodging event! As always, Bisnow provides an abundance of opportunities for networking and deal-making in a fast-paced, (almost) never boring, three-hour gathering. We look forward to seeing you there!
For more information: Bisnow: Denver Hotel & Lodging Forum 2019