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While the hotel outlook for 2018 remains positive, the future depends largely on the economy over the next 15 months, and the hotel industry would be the first to feel the results of a downturn, Trigild's Kevin Berry tells GlobeSt.com.
The all-suites brands by Hilton have significantly increased footprints, thanks to prototypes that make it easy to build Embassy Suites, Homewood Suites and Home2 Suites in high-barrier-to-entry locations.
Two Pack Hotel LP, an affiliate of Excel Hotel Group, acquires the 132-room Comfort Suites San Diego-Miramar and the 75-room Holiday Inn Express San Diego-Mira Mesa from LLJ Ventures, presenting a value-add opportunity.
As firefighters struggle to get a foothold on the devastating fires, the wine industry grapples with how this catastrophe will impact future output, meanwhile the last 10% of Cabernet grapes are still to be harvested.
The pipeline remains full as demand continues for readily available access to capital on well thought-out projects ranging from large flagged hotel brands to boutique concepts such as the 61-key Park James.
There's not a lot of product out there, and when it does come up, it gets chased pretty aggressively, driving cap rates down for top-shelf, select-service hotels, CBRE's Rod Apodaca tells GlobeSt.com.