Already losing tenants due to remote work, owners of office buildings find themselves pinched by rising interest rates and tenants’ fears of recession that could lead to layoffs and even more space reductions. Vacancy rates in many traditional business hubs such as Chicago, New York, and San Francisco reached record high levels over the past...
38 search results for: vacant hotels
THE HOTEL HOBBLE
About 74 percent of U.S. hotels are dealing with shortages of key supplies and paying more for those they can find, reducing their margins, according to a report by the American Hotel & Lodging Association (AHLA). Eighty-six percent of lodging establishments the AHLA surveyed reported supply-line disruptions are posing moderate to significant problems for their...
RECORD QUIT RATES: TAKE YOUR JOB AND SHOVE IT
On 5 November, 11.2 million U.S. jobs stood vacant, 50 percent more than the 7.4 million unemployed American workers, according to employment website Indeed. Three percent of the entire labor force—about 4.4 million workers—quit their jobs in September, a record number. More than 10 million jobs have remained open since June, the U.S. labor department...
CHICAGO’S COVID CRIME WAVE FOLLOWS SAN FRAN’S MODEL
Everybody already knows it’s a rare day that Chicago doesn’t experience multiple deadly shootings. But there’s still the perception that most of those are gang-related, and that most of the city’s neighborhoods are still safe for those not involved with gangs or criminal activities. But that perception is now coming face-to-face with a crime wave...
COMMERCIAL REAL ESTATE CRISIS?
It was a big story in The Wall Street Journal last week. Happy days are here again was the drift of the lengthy article. It began by noting that sales of commercial real estate have bounced back to pre-2020 levels, notching $144.7 billion in this year’s second quarter, according to data firm Real Capital Analytics. ...
COMMERCIAL REAL ESTATE VALUES PLUNGE
It comes as no surprise to Trend Journal subscribers. Since the COVID War broke out in February, we have been forecasting that hotels, shopping malls, and urban storefronts would be hard hit by draconian lockdown rules and the media’s 24/7 selling COVID Fear & Hysteria. Now, those sectors are losing market value by double digits....
AS GOES NYC, SO GOES THE U.S.A.
New York City has been pushed into an economic death spiral by the state’s Governor Andrew Cuomo and Mayor Bill de Blasio who both have imposed tyrannical restrictions. Having destroyed thousands of businesses and hundreds of thousands of lives, their lockdown rules served as a powerful sedative for the “City that never sleeps”… which is...
Global Chinatown goes local
The rise of a Global Chinatown, one of the institute’s Top10 trends for 2014, is accelerating and it is coming to a ballpark, residential community, manufacturing plant, shopping center, entertainment complex, resort or technology company near you. The winter edition of the Trends Journal reported that the common notion that Chinese investment in the US, Canada, Australia,...