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Airbnb is Just One Hotel-Market Detractor

IRVINE, CA—In addition to shaky global economies impacting the hospitality market, the strong run-up in domestic consumer spending on hospitality has hit a plateau and supply is low, Ten-X’s Peter Muoio tells GlobeSt.com EXCLUSIVELY.

Peter Muoio Muoio: “We do not think the cycle is over for the hotel industry, just that it is in a more mature phase.”

IRVINE, CA—In addition to shaky global economies impacting the hospitality market, the strong run-up in domestic consumer spending on hospitality has hit a plateau and supply is low, Ten-X’s chief economist Peter Muoio tells GlobeSt.com. As we recently reported, the firm’s latest Commercial Real Estate Nowcast showed that commercial-property pricing rebounded in April, posting month-over-month gains of 56 basis points overall, with that improvement extending to all property sectors aside from hotel; that sector continues to see pricing declines. We spoke exclusively with Muoio about the hotel sector’s descending valuations, what he believes is causing them and where he sees this trend heading.

GlobeSt.com: Aside from worsening economies overseas, what could be causing fundamentals to weaken in the hotel sector?

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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