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NEW PUBLICATION
Cornell Hotel Real Estate Indices: Q4 2020 A Glimmer of Hope Amidst a Hemmorrhage

by Professor Crocker Liu

"Prices of hotels along the east coast continue to drop, although the rate of decline has moderated. Hotels on the west coast enjoyed positive price momentum, both on a quarter-over-quarter or year-over-year basis. Hotels in gateway cities exhibited poorer price performance than those in non-gateway cities. Our moving average trendlines and standardized unexpected price performance metrics indicate a positive price reversal for large hotels, while the hemorrhaging continues for small hotels. There are indications that lenders are more willing to finance hotels going beyond best-in-class hotel properties, although the cost of financing and the relative risk premium remain high. This is report number 37 of the index series."
INSIGHTS
Inudstry News
Impactful Events

> Jan. 26: Kelly McGuire, managing principal of hospitality at ZS, speaking at the Thrive Women in Travel Day of Impact (Women in Travel Thrive)

> Jan. 26: Hotel Trends 2021 Webinar (ReviewPro)

> Mar. 25: Hotel Data Conference Global Edition (STR & Hotel News Now)
LODGING SECTOR METRICS
U.S. hotel occupancy climbed back above the 40% mark during the second week of January. China has fallen in recent weeks with new virus concerns ahead of the Lunar New Year. Europe remains below 20% amid lockdowns. The Middle East has pushed to the highest level with fairly consistent improvement over recent months.
As long as demand remains low, room prices will not improve much. Last week’s U.S. data showed average daily rate in the major markets down almost $70 on average from the comparable week in 2020.

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School of Hotel Administration, Cornell University
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