Source: CBRE Hotels

Key Takeaways

  • The college-educated unemployment rate – key for business travel – is now within 100 bps of its pre-pandemic levels and has been consistently improving since the start of the year. (Slide 7)
  • Business investment and business confidence are at all-time highs. (Slide 13)
  • Key business travel word searches are now down approximately 20% from pre-pandemic levels. (Slide 14)
  • The recovery is not just leisure-based at this point. (Slide 17)
  • Construction cost inputs will limit supply growth, bolstering same-store RevPAR growth this cycle. (Slides 19 – 21)
  • Labor shortages and wage pressures are a headwind to NOI recovery, but operators are smart and have found efficiencies in each of the last cycles. (Slides 23 -26)
  • Lenders continue to reenter the market as delinquencies wane, but construction lending still lags. (Slides 28 – 31)

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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