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 •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.