Even if you are not involved with hotels as a broker, developer, or investor, your real activities might involve a property or opportunity which is, at least in part, dependent upon hotels. Nearby restaurants, event centers, and shopping are examples. Sometimes nearby employee housing is a part of the involvement.
Travel trends seem to indicate that after an overall increase in 2024 that economic uncertainty is a factor in the recent reduction in air travel. If you are considering investing or expanding a hotel property or one which is impacted by hotels, it would help to research the area to better determine the target audience. It is another example of how you need to consider more than the data relating to a property.
The article linked below focuses on hotels in Hawaii, but some of the concerns apply in many more places. Whether you own or invest in hospitality related properties, or are a broker or service professional working with owners and investors, it helps your business to keep up with industry trends and concerns.
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