Stung by the pandemic, hotel owners and operators have focused on finding savings in reducing staff and providing alternative services. While that has been a prudent first step, they need to go beyond those measures. RSM has identified five ways hotels can survive the pandemic. … READ MORE >
Real estate
Hotels face a long road to recovery emerging from the pandemic
Even as the American economy continues to emerge from the shock of the coronavirus pandemic and economists predict strong growth this year, the forecast for the hospitality industry remains bleak. … READ MORE >
Reeling from the pandemic, hospitality industry struggles to adapt
COVID-19 has displaced hotel owners and stripped properties of guests and reliable revenue streams. In addition, travelers are not yet returning to normal patterns. … READ MORE >
CHART OF THE DAY: New home sales bounce back
New home sales bounced back to 842,000 in December, representing a 1.8% increase over the previous month, the Commerce Department reported on Thursday. … READ MORE >
CHART OF THE DAY: Housing activity continues to surge
Housing starts rose by 5.8% to an annualized rate of 1.67 million in December, ending the year as one of the strongest in a decade. And housing permits, an indicator of future activity, increased as well, by 4.5% to an annualized rate of 1.7 million in December. … READ MORE >
CHART OF THE DAY: Residential construction spending remains robust
Residential spending has been rising since February 2019, increasing by nearly 18% on a year-over-year basis in November. … READ MORE >
Traditional retail’s loss has been industrial’s gain
The growing reliance on contact-free e-commerce is providing new opportunities and unique challenges to the commercial real estate sector, specifically those focused on retail and industrial space. … READ MORE >
CHART OF THE DAY: Homes for the holidays
Nine months into the pandemic, demand for single-family homes, buoyed by historically low interest rates, continues to soar. Confidence among builders remains high, with the National Association of Home Builders index coming in at 86 for December. … READ MORE >
CHART OF THE DAY: Vaccine at the top of holiday wish list for senior housing
Senior housing of all kinds – including independent and assisted living facilities, as well as those that offer skilled nursing – have been hit hard by the pandemic, both in human and economic terms. … READ MORE >
Death and taxes are the only certainties in a volatile Chicago office market
The Chicago real estate investment community is bracing for a rough winter as both commercial and residential owners prepare for property tax hikes as Covid-19 continues to present a significant threat in Illinois. … READ MORE >