Hotels

Realty Income Corporation has entered into an agreement to purchase the property in a sale-leaseback transaction with Wynn Resorts Limited.

Demand for hotel rooms grew by 40 percent in Q4 2021, occupancy still short of pre-pandemic levels.

The pandemic increased demand for apartments while demand for extended-stay hotels fell.

Zoning is the first consideration when an investor considers a change in property use.

The 230-story hotel has 4,300 square feet of retail space, a lobby bar, and a 24/7 market.

The joint-venture partners have sold their first full-cycle development and ownership property.

Headwinds are likely to moderate expansion for 2022.

With the ability to change rates every day, hotels are most resistant to inflation.