Marcus & Millichap Report Forecasts Accelerated Growth
Thursday February 6th, 2014 - 4:10PM W
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NEW YORK—A faster pace of economic growth in 2014 will generate additional hotel stays and drive higher revenue, according to Marcus & Millichap, which just released its Hospitality Research Quarterly Update.
The First Quarter 2014 report noted that the potential downside risks to U.S. economic performance are minimal at this time, citing the Federal Reserve operating under new leadership as one of the few potential issues.
Other findings noted that a growing construction pipeline will influence investment decisions throughout 2014 as the construction cycle shifts into a higher gear following years of limited supply growth. The report forecasts 1.0% supply growth for 2014 to go along with 2.4% demand growth.
Tags: Marcus Millichap • quarterly report • Hospitality •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.