D.C. Hotels Face Declining Revenue, But Developers Won't Stop Building
Declining occupancy has made it difficult for D.C. hotel owners to raise rates, but developers are still launching projects that will add thousands of rooms.
Declining occupancy has made it difficult for D.C. hotel owners to raise rates, but developers are still launching projects that will add thousands of rooms.
MGM Resorts buys half of Sydell Group to make an entry into non-gaming U.S. hotels.
Rising labor costs associated with minimum wage increases are presenting challenges to businesses across the commercial real estate industry.
The national hotel investor was largely absent from the Bay Area market. Then it bought four downtown San Francisco hotels for repositioning.
MGM Grand Resorts sells MGM Grand and Mandalay Bay to a JV and leases them back.
Coronavirus is expected to decrease Chinese visits to the U.S. this year by 28%, and China has recently been the No. 1 country for tourists coming to D.C.
D.C. hotels remained around 20% occupancy in June, a fraction of their normal levels during the typically busy summer months.
Proposed projects in S.F. and the East and South Bays include rehabilitating current and former hotels, a college dorm building and a co-living property.
WorkChew, founded in 2018, turns underutilized restaurant and hotel space into flexible workplaces.
The Supreme Court declined to hear the cases and ordered lower courts to dismiss the suits as Donald Trump is no longer president.
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