Hotels and Resorts
The global hotel industry significantly contributes to the economy, generating approximately $85.1 billion in taxes and supporting around 357 million jobs worldwide, which is about one in every ten jobs. In 2024, the sector contributed about $10.9 trillion to global GDP, representing 10 percent of the global economy. ULI has members and councils in many of the top hotel markets, including Las Vegas, Los Angeles, New York City, and many other cities.
In a competitive global market, resort designers are racing to define the “new luxury.” The modern concept of luxury is “really about elegance and simplicity,” said Richard Centolella, a principal in design firm EDSA, during a panel discussion at the ULI Fall Meeting.
Tourism is a critical factor in the U.S. and world economies. “The impacts of tourism on a community can be beneficial if planned and managed, or extremely damaging if left without controls,” says Michael Kelly, former chairman of the APA’s tourism planning division.
Technology and changing travel habits are checking in as long-term guests.
The “fear of missing out” is a major motivator for today’s most affluent millennials who want every travel moment to be memorable—and tweetable.
Resorts and vacation homes—always the last real estate sector to recover from an economic downturn—are seeing increased activity, but developers are looking toward the future.
Built on land acquired during the Great Recession, Swire’s Brickell City Centre could transform downtown Miami.
In many--and sometimes surprising--ways, 55-and-older consumers are seeking the same housing amenities and lifestyles as their youngers.
At a 2014 ULI Spring Meeting panel in Vancouver, three successful resort developers discussed how they are achieving success by focusing on health, wellness, and activities that bring together family members across all generations—even ex-spouses.
The redevelopment of the historic Metropole building represents the first full-service hotel to open in downtown Cincinnati in 28 years.
Perhaps nothing illustrates the precipitous fall of the U.S. resort sector as the saga that put a quartet of household-name properties under the control of a sovereign wealth fund.