The hospitality industry is exhibiting encouraging signs of growth after the disastrous years of the pandemic, which slashed travel and hotel bookings. But while its very success is creating new problems, like a shortage of air-traffic controllers and hospitality workers, the industry continues to face a complicated lending environment as well as rising costs.
Marcus & Millichap's midyear 2023 national report on the hospitality industry depicts a sector still trying to regain its footing amid uncertainties over the direction of interest rates, higher wage rates, hesitant lenders, and lower deal flow.
Despite these challenges, the company sees opportunities for investors.
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