Experts in the hospitality industry foresee a strong performance for U.S. hotels in 2019. Property owners and those looking to invest will not need to worry about new rooms added to the market because demand will continue to overtake supply.
Hotel Occupancy Increase
Hotel occupancy levels in the U.S. are expected to rise to about 66.2%. With continued demand for accommodations, established hotels and emerging ones can look forward to a favorable market forecast.
Strong Economy
Fiscal boost from the tax-law changes, remaining impact from capital spending, improving wage growth, along with consumer confidence have all contributed to a positive and strong economy. The upward projection for the economic forecast means more demand for these properties.
Beyond 2019
Based on the forecast, industry growth may be curtailed by several risk factors such as employment shrinkage, credit-market problems, and higher interest rates. If you plan on buying a hotel or want to be an investor, there’s no better time than now to take advantage of the opportunity. From lower interest rates to high demand, you are in a good position to invest in a hotel.
Property Investments
Before you think about buying a hotel property for sale, make sure you look for a broker. Finding the right property-one that fits your needs, budget, and capabilities as well as your plans-is essential. By hiring the services of a realtor, you can get listings, check out properties, and make a decision much sooner.
Getting Help
A seasoned realtor can also provide negotiating assistance, help you put together a contract, and handle the steps involved in checking out and buying hotels for sale or putting in a sizable investment. If you’re interested in finding the right hotel property for sale, speak to the experts at NewGen Advisory.