CBRE US Hotels State of the Union May 2024 Edition
CBRE US Hotels State of the Union May 2024 Edition
Key Takeaways:
Economy
Q1 economic growth was slower than expected. 1Q GDP came in at 1.6%, below CBRE’s 2.3% estimate. We expect disappointing 1Q growth will result in a downward revision to CBRE’s full-year 2024 real GDP growth forecast of 2.3%. Inflation is proving stickier than expected, resulting in a 70-bps increase in CBRE’s 4Q Fed Funds rate from 4.4% to 5.1%.
Higher leverage and the burndown of COVID savings put…
A Malaysian influencer couple’s two-year-old son tragically drowned in a hotel pool while they were asleep in the room next door.
Jasmine Yong, took to Instagram on Saturday 18 May to tell her 464,000 followers the devastating news of her son, Enzo’s passing.
She wrote: ‘On Saturday (11 May), our family of three checked into a hotel to celebrate Mother’s Day.
Two-year-old Enzo, pictured, tragically died in a hotel pool while his parents were asleep next door
Mum of Enzo, Jasmine Yong and her husband, Lim Kong Wang pictured posing with their son. The couple had checked into a hotel…
An association of owners of hotels, restaurants and bars on Tuesday moved the Bombay High Court, challenging the orders passed by the Mumbai city and suburban Collectors, declaring the entire day of June 4, when the votes of the Lok Sabha elections will be counted, as a dry day.
A dry day means the purchase and consumption of alcohol are completely restricted at stores, restaurants and other places.
The Indian Hotel & Restaurant Association (AHAR) filed two separate petitions through advocates Veena Thadani and Vishal Thadani, claiming that it was arbitrary to ban the sale of liquor for the entire…
The Biltmore Los Angeles was inducted into Historic Hotels of America, the official program of the National Trust for Historic Preservation for recognizing and celebrating the finest historic hotels in the United States.
“Historic Hotels of America is delighted to induct The Biltmore Los Angeles, a Beaux-Arts style hotel built and opened on Oct. 2, 1923,” said Lawrence Horwitz, executive vice president of Historic Hotels of America.
“We commend The Biltmore Los Angeles team for its careful historic preservation work, stewardship and vision that will allow future generations of travelers to experience this unique historic destination.”
The Biltmore Los Angeles…
Organizers, elected officials and other “guests and dignitaries” are set to gather in Wildwood Crest, NJ, on Thursday afternoon for the ribbon cutting of a property that is said to be the largest single resort in all of Cape May County.
On Thursday afternoon, Donald Cabrera, the mayor of Wildwood Crest will join Dan Alicea, president of Madison Resorts for the ribbon cutting on the $52 million Madison Resort Wildwood Crest — a property created after the company purchased The Oceanview Motel followed by the addition of the Royal Hawaiian in Wildwood Crest and to combine the two into one…
