HOUSTON—Third quarter hotel performance was better than expected and fourth quarter is anticipated to be generally positive, according to Vince Ciepiel, senior analyst, Cleveland Research Company. Ciepiel presented the research to support these predictions at the Lodging Conference last week.
He pointed to the need for hotels in the aftermath of Harvey and Irma, which provided a boost to the latter quarters of the year. Specifically, economy and midscale hotels outperformed forecasts in the third quarter because of displaced residents and clean-up crews requiring temporary housing.
Ciepiel also indicated that consumer confidence for hospitality product is at an all-time high especially for leisure travel, while corporate travel is to remain soft for the foreseeable future. He said there are more ups than misses for publicly traded companies.
Recommended For You
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© 2025 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.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
