U.S. cities added more than 2,900 buildings with more than 200 apartment units between the years 2021 and 2023. That is 17% more than were built from 2018 to 2020. It also outpaced the increase in the number of smaller properties of at least 50 units.
Stock Correlation
Stocks have switched from moving in the exact opposite direction to Treasury yields in the second half of last year, both as yields soared to a peak of 5% on the 10-year note and as they came back down, to having a slight tendency to rise and fall in line with yields.
Rates Outlook
Powell said that rate cuts won’t be warranted until officials have “gained greater confidence that inflation is moving sustainably” toward the central bank’s 2% goal.
2024 RevPAR
U.S. RevPAR is forecast to increase by 2.6% to $100.50 in 2024, driven by ADR growth of 3.1% to $160.50 while occupancy declines 0.5% to 62.6%.
Restaurant Costs
In January, prices for food eaten away from home were up 30% compared with the same month in 2019. Restaurants’ food bills have stopped their pandemic-era surge, but payroll costs are still climbing.
IRS Notices
The first batch of more than 25,000 letters will go out to taxpayers with more than $1 million in income, followed by more than 100,000 letters to people with incomes between $400,000 and $1 million. The notice says to file your return immediately or to explain either why you are late or don’t have to file.
Vacation Trend
“Rest and relaxation” jumped ahead of having “a fun time” and spending “time with immediate family” as the main motivator for leisure travel.
Hilton AutoCamp
Hilton has collaborated with AutoCamp, the outdoor hospitality company, to offer "enhanced outdoor lodging experiences in unique destinations". The partnership will offer an experience that combines outdoor adventure with the hospitality of a boutique hotel.
Hotel Labor
Hotels will collectively pay $123 billion in compensation this year, up more than 20% from 2019.
DC Waldorf
Miami-based investor CGI Merchant Group defaulted on a $285 million loan related to the Washington Waldorf Astoria (previously the Trump International Hotel) it acquired for $375 million in 2022.