An October 2023 report by the NAR says that the average daily rate for rooms is 17% above pre-pandemic figures, and revenues are up 13% over the same period.
Hospitality commercial real estate: This sector includes hotels, motels, extended-stay hospitality, and resorts. The focus is on short-term stays, with amenities varying from basic in motels to luxurious in high-end hotels. The value of investments in hospitality real estate depends on location, tourism trends, brand affiliation, and operational management. The sector can be highly cyclical, with revenues fluctuating according to the season and macroeconomic factors. An October 2023 report by the NAR says that the average daily rate for rooms is 17% above pre-pandemic figures, and revenues are up 13% over the same period.