The post-pandemic travel boom will help all sorts of properties including retail, industrial and multifamily in tourist destinations, said John Chang, senior vice president, director research services Marcus & Millichap in a recent video.
Leisure travel is quickly picking up in vacation hot spots like Orlando, Las Vegas, Nashville, Miami but also in metros that are less dependent on tourism like Los Angeles, Washington, DC and Chicago, he noted.
Chang pointed out that historically hotel occupancy is in the 73% to 75% range for July, but last year it was 47%.
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