New Publication
Real Estate Indices
Second Quarter 2020: Are All Crises the Same?
Professor Crocker Liu and co-authors released their second quarter real estate indices report, where they show that the current crisis is much worse than the Great Recession in terms of risk and the loss of relative wealth. Read the full report.
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Help shape the conversation about the future of the hospitality industry
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The Hotel of Tomorrow® Project is conceptualizing innovations to usher the hospitality industry through COVID-19 and beyond. Since its kick-off in June, 2020, the 325-member group, including contributors from Cornell University, has developed hundreds of ideas and is now inviting travelers, designers and more to join them in the final stage of concept development: Traveler Testing. Led by hospitality design and development firm The Gettys Group, the think tank’s teams have arrived at dozens of breakthrough innovations through a methodology that has included online workshops and building a shared research archive.
“We all have a curiosity and creative impulse about our future,” said Ron Swidler, chief innovation officer of The Gettys Group, “So we hope to cast a wide net and hear diverse thoughts and opinions to prove and improve concepts that can help this essential industry speed toward recovery and beyond.” Those interested in evaluating concepts should sign up by taking the survey linked below. The results of the survey will be shared and analyzed at an exclusive presentation at BDNY 2020 in November.
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The project’s strength has been its ability to unite experts from every part of the hospitality industry around the world—including owners, designers, educators from some of the world’s top hospitality programs, and representatives from the world’s foremost hotel brands. According to collaborator Larry Traxler, Hilton’s senior vice president of global design, “The Hotel of Tomorrow® Project has created a unique and effective forum for exploration and problem-solving across a network of related businesses, all invested in supporting our industry’s future.”
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July hotel pipeline data showed an expected slowdown in the number of rooms in construction, which stands at 208,000 rooms and just 1% above last year. Additionally, more projects were moved into the abandoned stage.
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Growth in both TSA passengers and U.S. hotel demand has slowed over the past two months. The ratio of hotel guests that can be attributed to air travel has also remained static.
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For week ending August 8:
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Data last updated August 10:
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