The report places Seattle, Dallas, Houston, Orlando and Philadelphia in the in-decline category because hoteliers there continue to build new properties despite pressure on profit growth over the past year. Favorable cities include New York, Los Angeles, San Francisco, San Diego, and Miami, thanks to a slower-growing supply and fast-rising prices and occupancy rates.
High-end hotels around the country will face the most pressure, because more of them are being built, the consulting firm concludes, as its December data showed high-end hotels accounting for 48% of the hotels under construction, while economy hotels accounted for 21%, PriceWaterhouseCoopers reports.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
