The Commercial Mortgage Alert Trepp weekly survey of 15 active portfolio lenders continued to trend lower with average spreads down 5 basis points. During the period, 10-year Treasury bond yields increased 9 basis points. Spreads in the August 31 Cushman & Wakefield Sonnenblick-Goldman fixed and floating mortgage rate survey came in slightly.
Hotel fundamentals are improving as panic and capitulation give way to a slow-growth environment. Yet, the global response to the economic crisis threatens to yield to sovereign risk in Greece and Spain and undermine a gradual, nascent recovery. These were the major messages at the Jeffer Mangels Butler & Marmaro conference Meet the Money: Unlocking the Game Changers for the Coming Recovery, held in early May in Los Angeles.
Trends are neither destiny nor gospel. They are guideposts identified from the collective experience of many professionals within an industry. In the resort, recreation, and tourism industry, numerous trends identified through experience and expectations are emerging to influence how and where people will buy and use resort real estate. Society is changing fast, and the economic conditions of the past two years have created much uncertainly. But what is discernible is that current trends are focused on valuedriven buyers, downsized purchases for personal use, and scalability.
Ten renovation and retrofit projects make over structure to meet the needs of the contemporary hospitality industry and tap the place-specific power of older buildings.