Based in Portland, Oregon, Barclay Grayson guides acquisitions and development with the BPM Real Estate Group. Maintaining extensive industry knowledge, Barclay Grayson follows hospitality trends in Portland and beyond.
Released in July 2021, the CBRE US Hotels State of the Union report reveals a gradual rebound in hotel performance. While the occupancy recovery reached a plateau in early 2021, American hotels have benefitted from international travel restrictions, which routed travelers toward domestic destinations. At the same time, the demographics of visitors to the United States have shifted. As a percentage of travelers, Latin Americans have increased the most from the pre-pandemic status quo. The top five visitors in the first quarter of 2019, by country, were Canada, Mexico, Japan, UK, and China. By early 2020, that had changed to Mexico, Canada, Columbia, India, and the Dominican Republic.
Another finding in the report is that private, nonresidential fixed investment had reached record levels. With labor shortages and cost pressures an issue, limited-service hotels were able to generate operating profits in June 2021 more than 150 percent higher than 2 years earlier. The report predicts that, should consumer confidence continue to rebound, incremental leisure gains will result.