Following a nearly year-and-a-half Request for Proposal (RFP) process, Amazon announced that it would split the location of its new HQ2 campus between Long Island City, New York, and Crystal City, Virginia.
As expected, hotel transaction volume fell to a historic low during the peak of the Great Recession in late 2009, a drop that began roughly 24 months earlier at the end of 2007. Similar to the rebound in performance, transaction activity among economy hotels recovered rapidly, but soon declined as investors shifted their focus to midscale and upscale hotels, which recovered more slowly from the recession.
Birmingham's economy is largely driven by the healthcare sector, with top employers such as the UAB Health System, Baptist Health System, and St. Vincent's Health System, whose hospitals and clinics are expected to change their name to Ascension.
The 2017 Meet the Money National Hotel Finance & Investment Conference, held May 8–10 in Los Angeles, brought together a strong showing of hotel owners, investors, lenders, brokers, consultants, franchisors, and brand representatives.
A significant amount of work is underway in Atlanta, with new expansions and builds promising to bring in more tourists, commercial travelers, and group demand for the city's hotels. The highest-profile projects include a $6- billion expansion of Hartsfield-Jackson Atlanta International Airport, which is expected to span the next two decades, and Mercedes-Benz Stadium, which will host Super Bowl LIII in 2019.