Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Peter Muoio

Irvine, CA–Hotel revenue growth during the third quarter of the year fell to its slowest pace since 2013, gaining just 2.7% from a year ago. Despite the ongoing economic expansion, demand for hotels and motels has plateaued, according to Ten X’s quarterly Hotel Monitor report, an analysis of macroeconomic and hospitality fundamentals across the US.

“This is basically a tale of two cycles with commercial real estate and the economy being robust and leading to an over-abundance of hotel rooms, thus making room rates cheaper,” says Peter Muoio, EVP and chief economist, Ten-X. “Plus people spending on hotel rooms certainly fits within the strong economic theme, however, they are also spending on experiences and that will trend into 2019.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.