U.S. Hotel Market May Not Recover Until Late 2021 or Early 2022, According to Integra's Newly Released Hospitality Market Report

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According to the report, the U.S. Hospitality Market may not recover until late 2021 or early 2022. Julie Fugitt-Schultz, CCIM, Director Hospitality Valuation for Integra Realty Resources and National Practice Leader of Integra Hotels - Specialty Practice Group, adds, "It's no secret the U.S. Hotel Market has taken a significant hit, however a positive recent development is consumer sentiment rebounded in June with Recent Travel Sentiment data mirroring this uptick. Consumer spending and leisure room night demand increased thanks to pent-up consumer demand combined with lower gas prices and safety perceptions of 'drive-to' destinations. Overall, we expect leisure demand to be the first to exhibit post-recession recovery, followed by a slower return of corporate transient and corporate group demand."

Integra Hotels is IRR's hospitality specialty practice group, offering valuation services for lending, market/feasibility studies, insurance appraisals, and litigation support. Over the past 36 months, IRR has completed 2,500 hospitality assignments nationwide, totaling more than $25 billion in asset value, ranging from small, independently owned bed and breakfasts, to major luxury hotel brand portfolios. For more information on Integra Hotels, please visit www.irr.com/hotels

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