U.S. Hotel Market May Not Recover Until Late 2021 or Early 2022, According to Integra’s Newly Released Hospitality Market Report

USA, Denver, Colorado. September 03, 2020

Integra Realty Resources (IRR), one of North America's largest independent commercial real estate valuation and consulting firms, has released its Mid-Year U.S. Hospitality Report-a supplemental update to its flagship Viewpoint 2020 report released in January.

According to the report, the U.S. Hospitality Market may not recover until late 2021 or early 2022. Julie Fugitt-Schultz, CCIM, Director Hospitality Valuation for Integra Realty Resources and National Practice Leader of Integra Hotels - Specialty Practice Group, adds, "It's no secret the U.S. Hotel Market has taken a significant hit, however a positive recent development is consumer sentiment rebounded in June with Recent Travel Sentiment data mirroring this uptick. Consumer spending and leisure room night demand increased thanks to pent-up consumer demand combined with lower gas prices and safety perceptions of ‘drive-to' destinations. Overall, we expect leisure demand to be the first to exhibit post-recession recovery, followed by a slower return of corporate transient and corporate group demand."

For more insight into the U.S. hospitality market, download this comprehensive report for free at www.irr.com/research

Integra Hotels is IRR's hospitality specialty practice group, offering valuation services for lending, market/feasibility studies, insurance appraisals, and litigation support. Over the past 36 months, IRR has completed 2,500 hospitality assignments nationwide, totaling more than $25 billion in asset value, ranging from small, independently owned bed and breakfasts, to major luxury hotel brand portfolios. For more information on Integra Hotels, please visit www.irr.com/hotels


Tags: Hotels, Hospitality, COVID19, Valuation, hospitality industry, resorts, irr, integrarealtyresources

About Integra Realty Resources

Media Contact:

Kathleen Rodriguez
President
kROD Communications
T: 305-710-4586
E: [email protected]
W: http://www.krod.co

Subscribe to our newsletter
for more Hotel Newswire articles

Related News

Choose a Social Network!

The social network you are looking for is not available.

Close
Coming up in June 2022...

Sales & Marketing: Promoting Peace of Mind


As the hotel industry transitions to a more familiar position, it is still necessary for hotels to emphasize in their marketing the health protocols they have implemented to ensure guest safety and wellness. Above all, guests need to be reassured that every precaution is being taken to safeguard their well-being. Additionally, there are other marketing strategies that hotels can implement as a way to boost their business. For example, neighborhood marketing is a tactic that relies heavily on appealing to local audiences. Incentives targeting locals can fulfill the craving that some people have for time away from home, but aren't ready to hop on a plane. Another viable strategy is to promote experiences in nature. After being stuck inside for so long, many people are looking for hotels to help them re-connect with the great outdoors. The June Hotel Business Review will focus on the marketing strategies that some hotels are adopting and how they are benefiting from them.