Hospitality and Lodging

Source: CoStar Hotel Deals Outlook for the Second Half of 2026 supplies a current capital- markets control: Q2 2026 hotel transaction count and volume were below Q1 but above Q2 2025, while reported price per key declined quarter over quarter. Read that as selective reopening and price-level dispersion, not proof of broad hotel value recovery; require asset-level RevPAR, labor, insurance, capex, debt, and buyer-pool evidence before changing underwriting assumptions.

May 2026 C-PACE note: the Marriott Downtown Frederick source is a hotel development-finance example where sustainability scope was funded through a long-term C-PACE loan. Use it as financing-structure evidence rather than operating-performance evidence.

CBRE's Marriott recovery-strategy metadata is an older qualitative hotel-operations source. It supports the idea that hospitality recovery depends on operating innovation and brand-platform strategy after disruption, but it should not be used for current RevPAR, demand, or valuation claims.

CBRE's Points Guy loyalty-program episode is similarly metadata-only. It can sit behind the idea that hotel brand platforms compete partly through loyalty ecosystems and customized guest experience, but the capture is a rotating podcast hub and should not be used for fee economics, current demand, or valuation evidence.

CBRE's Mexico industrial / hotel capital item is also metadata-only. It flags Mexico hotel capital as a cross-border topic, but it should not be used for hotel transaction, RevPAR, or capital-flow claims without a dedicated report.

The Source Collection: CBRE Insights Market Reports Public Crawl 2026 preserves a small hotel cluster from U.S. and APAC hotel investor-intentions / RevPAR materials. Treat it as a review queue and capital-sentiment prompt, not as a verified lodging market table: the row set includes PDF/page-line, range, composite, and one blocked capture status, so exact RevPAR, investor-volume, or allocation claims still need source-line verification.

The Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q1 2026 now supplies the first broad national hotel operating table in the structured layer. C&W reported Q1 2026 U.S. hotel occupancy of 59.2%, ADR of $161.57, RevPAR of $95.63, and RevPAR growth of 3.8% year over year, with 26 major-market rows preserved as source-family observations. Treat these as C&W / STR-CoStar rows, not as a generic hotel market truth that can be blended with CBRE, JLL, Matthews, or local broker series without labels.

Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 extends that exact source-family series into Q2. C&W reported 66.7% U.S. occupancy, $169.62 ADR, and $113.20 RevPAR for the three months, with year-over-year gains of 1.3% in relative occupancy, 4.4% in ADR, and 5.7% in RevPAR. First-half RevPAR grew 4.8%, led more by ADR than occupancy, while the complete 26-market table shows material dispersion: Chicago led RevPAR growth at 13.6%, San Antonio was the only listed negative market at -1.5%, and Miami's 10.8% RevPAR gain coexisted with -3.5% demand and a 3.8% relative occupancy decline. Treat event-window and rate-led gains as operating selection signals, not uniform volume recovery.

Source: CBRE U.S. Hotel Figures Q1 2026 adds the CBRE figure-page cross-check: Q1 2026 occupancy was up 0.8% year over year, demand grew 2.0% against 0.6% supply growth, ADR rose 2.2%, and RevPAR rose 3.8%. The useful CBRE-specific caveat is location-type dispersion: all location types except interstate remained below 2019 occupancy, and urban hotels were still only 93.5% of the 2019 occupancy baseline even as San Francisco posted 31% RevPAR growth. Keep the CBRE growth-rate rows separate from the C&W / STR-CoStar level rows.

Source: CBRE U.S. Hotel Figures Q2 2026 extends that CBRE cross-check into Q2: demand grew 1.7% versus 0.4% supply growth, ADR rose 4.4%, and RevPAR rose 5.7%, while overall occupancy increased 0.8% year over year. The source does not remove the location and event gates: every location type remained below its 2019 occupancy level, resorts were 5.4 percentage points below their pre-pandemic baseline, Memphis led RevPAR growth at 20%, and Savannah was the lowest reported market at -2%. Treat this as a rate-and-demand recovery monitor, not a hotel-by-hotel revenue, margin, or exit-cap input.

The Source: Trepp Lodging Recovery That Wasn't 2026 adds the CMBS lodging counterweight to that operating table. Trepp's public article argues that aggregate CMBS lodging recovery can hide subtype fracture: extended stay has structurally de-risked, full-service occupancy is still 7 to 8 points below 2019 levels, and limited-service is the weak credit lane because stalled RevPAR, deferred CapEx, reaccelerating delinquencies, and modification overhang reinforce each other. Keep this as Trepp / CMBS-universe credit evidence, not as a full-market STR operating series.

Source: Colliers U.S. Hospitality Outlook Report 2026 adds the forward-looking Colliers forecast layer. Colliers forecast top-50 U.S. lodging demand growth of 1.3% in 2026, ADR growth of 1.35%, and flat 64.1% occupancy, with occupancy still below the 69.5% 2019 benchmark and only reaching 65.3% by 2029. The source reinforces bifurcation rather than a clean hotel upcycle: luxury / upper-upscale and value-oriented economy / midscale lanes screen better than traditional upscale / upper-midscale, while international visitation remains a headwind and price sensitivity pressures ADR. Keep these as Colliers outlook rows, not replacements for Q1 CBRE or C&W observed operating data.

Source: Marcus & Millichap Hospitality Outlook June 2026 adds a national demand-pressure and supply-discipline cross-check. Marcus & Millichap reported airfares up 21% annually, 70% of consumers changing vacation plans because of gas prices, and only 45% planning paid lodging, while limited-service occupancy sat in the low-54% range as of May 2026. The offset is supply and capital-market discipline: new hotel supply additions were down 34% from 2019, trailing-12-month deal volume through March was up 19% from the 2024 trough, pricing averaged about $113,000 per key, and cap rates were near 8.7%. Use this as a source-scoped Marcus outlook that reinforces segment underwriting, not as a replacement for STR/CoStar operating tables.

Source: Marcus & Millichap 2026 U.S. Hospitality Investment Outlook adds the official report-scope landing page behind the same broker-family hospitality thesis. Its public teaser frames 2026 as a crosscurrent year: major events, better business travel, and moderating supply pressure are tailwinds, while geopolitical uncertainty, chain-scale/location dispersion, and rising property-improvement-plan costs keep underwriting selective. Use it as qualitative context only; the visible page is not a hotel operating table.

Source: Matthews Hotel Rate Sheet 2026 adds the debt-structure layer behind hotel financeability. As of June 10, 2026, Matthews' public rate sheet showed different underwriting lanes for bank / credit-union, LifeCo, CMBS, bridge, mezzanine / preferred equity, USDA, and C-PACE hotel capital, with lender-specific LTV / LTC, DSCR, amortization, interest-only, index, recourse, prepayment, and rate-range assumptions. Use it as a source-scoped hotel capital-stack checklist, not as RevPAR, ADR, NOI, cap-rate, or transaction-volume evidence.

Source: Matthews World Cup Hospitality and Retail Demand 2026 adds an event-demand underwriting overlay. Matthews argues that 2026 FIFA World Cup demand should be modeled by match schedule, team draw, fan-zone / entertainment-district geography, and downstream spending rather than by host-city status alone. Use the source to frame temporary ADR / occupancy compression, short-term-rental displacement, and F&B / retail spillover around specific match windows, not as stabilized hotel NOI or permanent demand proof.

Source: Marcus & Millichap Salt Lake City Hospitality Market Report 1Q 2026 supplies dated SLC occupancy / job / resort-lift forecasts, statewide skier visits and an adjacent Provo-Orem occupancy comparison. Source: Salt Lake City DFW-Parity Public Source Stack 2026 supplies county visitor-economy and airport-movement context; Salt Lake City Hospitality and Tourism Market preserves periods, populations, planned stages and unresolved data-year / international-total scope. Forecast Evaluation and Research Transferability tests matched hotel outcomes and local overnight capture, Sensitivity and Scenario Analysis tests weather, service / supply timing, margins and complete funding, and Portfolio Construction and Risk Budgeting compares investor alternatives. Multiple channel labels do not establish independent risks, hotel capture or investment superiority.

Source: Marcus & Millichap Denver Hospitality Market Report 1Q 2026 reports dated visitor moderation and revenue / occupancy declines, then forecasts modest 2026 recovery through airport, CBD rail and street-improvement mechanisms. Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 supplies preliminary metro Q2 volume / room-availability / rate evidence; Denver Hospitality and Tourism Market preserves periods, hotel cohorts, relative units and project-stage limits. Forecast Evaluation and Research Transferability tests matched outcomes and local overnight capture, Sensitivity and Scenario Analysis tests disruption, availability, margins and complete funding, and Portfolio Construction and Risk Budgeting compares investor alternatives. Access improvements and hub activity do not identify hotel demand, NOI or independent risk.

Source: Marcus & Millichap New York City Hospitality Market Report 1Q 2026 adds the gateway-event version of the same source-family screen. Marcus frames New York as the nation's most occupied lodging market and expects America250 plus FIFA World Cup demand to concentrate in high-end Manhattan hotels, with full-service / luxury RevPAR gains exceeding 5 percent and Midtown South occupancy surpassing 90 percent. Keep the caveat visible: new supply is expected to pressure occupancy and ADR growth, and the public teaser is not a full hotel KPI table.

San Diego Hospitality Market connects Source: Marcus & Millichap San Diego Hospitality Market Report 1Q 2026 to the kept preliminary Q2 operating row from Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026. The broker's travel / submarket improvements and 1,600-room Gaylord occupancy pressure remain attributed explanations and forecasts. The primary review distinguishes the open first Terminal 1 phase and announced LEGO Galaxy opening from planned 2028 completion, annual attendance uplift and a complete 2026-2027 cruise outcome. Quarterly market growth does not identify these local effects or establish NOI. Match net stays, displacement, competing rooms, margins and complete funding to the investor's actual price, objectives, horizon, cash needs and feasible actions.

Source: Marcus & Millichap Dallas-Fort Worth Hospitality Market Report 1Q 2026 adds the corporate / convention / event version of the same local-hospitality screen. The useful underwriting distinction is demand channel plus supply timing: Dallas CBD is the revenue anchor, Arlington has a 2026 event window after 2025 revenue and occupancy gains, and Fort Worth CBD has demand growth but also late-2026 Omni expansion supply. Keep the Marcus teaser separate from STR / CoStar-style operating tables because it does not expose complete ADR, RevPAR, occupancy, transaction, cap-rate, or price-per-key data.

Source: Marcus & Millichap Los Angeles Hospitality Market Report 1Q 2026 adds a more mixed event-market example. SoFi Stadium's 2026 FIFA World Cup matches can create a June-July booking and ADR window, especially for South Bay hotels, but Marcus also flags an 8% summer-2025 international-visitor decline, a nearly 4% LAX passenger-traffic decline, and business-travel headwinds from office-using employment and local film production. Use the source as event-window and demand-channel evidence, not as proof that annual Los Angeles hotel occupancy or RevPAR has normalized.

Source: Marcus & Millichap Orange County Hospitality Market Report 1Q 2026 supplies attributed Orange County history, service-format share and traveler / chain-scale forecasts. Orange County Hospitality Market pairs them with preliminary quarterly volume / rates without treating service format as a luxury-room census or a quarter as an annual forecast score. Forecast Evaluation and Research Transferability matches populations, classifications and periods, Sensitivity and Scenario Analysis tests local capture, substitution, room availability, mix, margins and funding, and Portfolio Construction and Risk Budgeting compares actual price, investor constraints and shared guest / operator / financing exposure. Two service ends do not establish diversification or a superior investment.

Source: Marcus & Millichap Phoenix Hospitality Market Report 1Q 2026 supplies dated Phoenix segment / supply forecasts and a Taipei / TSMC-travel mechanism, not measured local stay conversion or investment ranks. Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 supplies preliminary metro Q2 volume / availability / rate evidence; Phoenix Hospitality Market preserves period, unit, cohort and project-stage scope. Forecast Evaluation and Research Transferability tests matched outcomes and denominators, Sensitivity and Scenario Analysis tests net capture/displacement, supply ramp, margins and complete funding, and Portfolio Construction and Risk Budgeting compares investor alternatives. Air-service context, semiconductor projects, resident income and proposed rooms do not establish hotel capture, completed supply or independent risk.

Source: Marcus & Millichap Atlanta Hospitality Market Report 1Q 2026 supplies a dated Atlanta airport / event / corporate-travel forecast, not measured local stay conversion or demonstrated downside protection. Source: Colliers Georgia Hospitality Market Report Q1 2026 supplies separate statewide Q1 context and Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 supplies preliminary metro Q2 volume / availability / rates. Atlanta Hospitality Market owns cohort, timing and asset-stage scope, Forecast Evaluation and Research Transferability tests matched outcomes and denominators, Sensitivity and Scenario Analysis tests capture/displacement, margins and complete funding, and Portfolio Construction and Risk Budgeting compares investor alternatives. Flights, cross-city ticket requests, different demand-channel names and one luxury sale do not establish hotel investment superiority.

Source: Marcus & Millichap Nashville Hospitality Market Report 1Q 2026 reports dated Nashville Downtown booking / occupancy and Midtown construction / demand comparisons, alongside interstate / suburban rate-pressure and supply forecasts. Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 supplies preliminary metro Q2 volume / room-availability / rates; Nashville Hospitality Market preserves the booking lower bound, periods, cohorts and separately reviewed tri-brand refinancing. Forecast Evaluation and Research Transferability tests matched outcomes, Sensitivity and Scenario Analysis tests net capture, supply ramp, margins and complete funding, and Portfolio Construction and Risk Budgeting compares investor alternatives. Office / retail populations, planned rooms and a reported loan do not identify hotel capture, investment ranks or independent risk.

Source: Marcus & Millichap Houston Hospitality Market Report 1Q 2026 supplies dated Houston weather / demand attribution and event / segment / long-term destination forecasts. Source: Houston World Cup Hotel Demand 2026 supplies May advance booking pace and a separately scoped expectations survey; Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q1 2026 and Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 supply preliminary quarterly volume / availability / rate observations from the shared STR/CoStar family. Houston Hospitality Market owns period, unit, cohort and geography scope, Forecast Evaluation and Research Transferability tests matched outcomes, Sensitivity and Scenario Analysis tests net capture/displacement, margins and complete funding, and Portfolio Construction and Risk Budgeting compares investor alternatives. Booking pace, RevPAR growth and medical / venue labels do not establish realized event effects, permanent recovery or investment ranks.

Austin Hospitality Market connects Source: Marcus & Millichap Austin Hospitality Market Report 1Q 2026's dated hotel ranks and COTA / UT forecasts to verified convention-center and assessment stages. Separate demolition, expected completion, planned opening, bookings, projected economic impact, marketing assessments and construction funding. The teaser lacks exact local / peer / service-class hotel tables; another Texas market cannot fill that gap. Match net stays, displacement, competing rooms, assessment incidence, margins and full funding to the investor's price, objectives, horizon, cash needs and feasible actions.

Source: Marcus & Millichap Washington, D.C. Hospitality Market Report 1Q 2026 supplies dated policy / travel-pressure, relative Maryland performance, luxury ADR and temporary America250 forecasts. Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 supplies positive preliminary metro Q2 volume / rates; Washington DC Hospitality Market preserves cohort, period, unit and current-policy verification limits. Forecast Evaluation and Research Transferability tests matched outcomes and actual local stays, Sensitivity and Scenario Analysis tests net capture, supply / conversion timing, margins and complete funding, and Portfolio Construction and Risk Budgeting compares investor alternatives. A quarter does not score annual / local forecasts or establish policy effects, property NOI or independent risk.

Source: Marcus & Millichap Chicago Hospitality Market Report 1Q 2026 supplies dated Chicago travel-mix / room-removal attribution and annual occupancy, ADR and submarket supply forecasts. Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 supplies separately scoped preliminary quarterly volume / availability / rate evidence; Source: U.S. Hotel Performance Week of September 13-19 2026 supplies a September event week from the shared STR/CoStar family. Chicago Hospitality Market owns local scope, Forecast Evaluation and Research Transferability tests denominators and matched outcomes, Sensitivity and Scenario Analysis tests capture/displacement, labor coverage, margins and complete funding, and Portfolio Construction and Risk Budgeting compares investor alternatives. Relative operating ranks and office headlines do not establish hotel investment superiority.

Source: Marcus & Millichap Philadelphia Hospitality Market Report 1Q 2026 supplies a dated 2026 Philadelphia event forecast, 5 percent annual RevPAR growth and more-than-6 percent limited- / full-service growth. Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 supplies separately scoped quarterly volume/rate evidence. Philadelphia Hospitality Market owns local scope, Forecast Evaluation and Research Transferability tests matched periods and service segments, Sensitivity and Scenario Analysis tests capture/displacement, event decay, margins and complete funding, and Portfolio Construction and Risk Budgeting compares investor alternatives. Historical bookings and a strong quarter do not establish annual forecast success, identified event effects or permanent NOI.

Source: Marcus & Millichap Boston Hospitality Market Report 1Q 2026 supplies a dated 2026 Boston event / submarket forecast after reported 2025 declines. Life-sciences and Hynes explanations are broker attribution; heritage proximity is not measured stays. Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 provides separately scoped preliminary quarterly Boston volume/rate counterevidence. Boston Hospitality Market owns local scope, Forecast Evaluation and Research Transferability tests matched outcomes, Sensitivity and Scenario Analysis tests capture/displacement, event decay, margins and complete funding, and Portfolio Construction and Risk Budgeting compares investor alternatives. Relative growth ranks do not establish asset selection or permanent NOI.

Source: Marcus & Millichap Miami-Dade Hospitality Market Report 1Q 2026 supplies a dated 4.6 percent annual Miami-Dade demand-growth forecast with event, air-connectivity, meetings and luxury hypotheses. Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 reports rate-led quarterly Miami performance alongside weaker room-night volume; Source: Colliers Florida Hospitality Market Report Q1 2026 offers a separately scoped early-2026 summary. Keep annual demand, relative occupancy growth, ADR, RevPAR and event-week performance distinct. Miami Hospitality Market owns local scope, Forecast Evaluation and Research Transferability tests matched outcomes, Sensitivity and Scenario Analysis tests net capture/displacement, event decay, margins and complete funding, and Portfolio Construction and Risk Budgeting compares investor alternatives. These sources do not establish permanent NOI or investment rankings.

Source: Marcus & Millichap Tampa-St. Petersburg Hospitality Market Report 1Q 2026 offers a dated normalization / corridor-demand hypothesis after a reported 300-bp historical occupancy decline and expected further 2026 softness. Relative closeness to 2019 does not establish positive growth, reject persistent demand weakness or rank investments. The Downtown-TIA-Interbay thesis needs net local booking capture from anticipated conventions and expanded air service, not just attendance or routes. Tampa Bay Hospitality Market owns scope; Forecast Evaluation and Research Transferability tests competing explanations and matched outcomes, Sensitivity and Scenario Analysis tests displacement, storm interruption, margins and complete funding, and Portfolio Construction and Risk Budgeting compares investor-specific alternatives and shared exposures.

Source: Marcus & Millichap San Antonio Hospitality Market Report 1Q 2026 supplies attributed historical limited-service occupancy / RevPAR declines and a dated civic / airport recovery forecast. Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 supplies preliminary metro Q2 room volume / availability and rates; San Antonio Hospitality Market preserves segment, period, unit, Alamo / Terminal A phase and property-transaction limits. Forecast Evaluation and Research Transferability tests matched outcomes and actual stays, Sensitivity and Scenario Analysis tests delivery, interruption, net capture, margins and complete funding, and Portfolio Construction and Risk Budgeting compares investor alternatives. Civic plans, higher occupancy or a reported hotel sale do not identify recovery, property NOI or independent risk.

Source: Marcus & Millichap Orlando Hospitality Market Report 1Q 2026 adds the theme-park / convention-market service-level split. Marcus says Orlando occupancy declines had slowed enough that 2026 could mark the first year-over-year occupancy gain since 2022, but the stronger read is in mix: full-service hotels were outperforming, tourist tax collections rose despite modestly lower hotel demand, and limited- / select-service recovery depended on lower-income discretionary spending. Use Orange County Convention Center expansion as a long-term group-demand catalyst with construction-disruption risk through anticipated 2029 completion, not as immediate stabilized NOI proof. Keep spending attribution separate from the reported tax and hotel-demand directions. Relative segment performance does not establish absolute recovery or asset returns. Orlando Hospitality Market owns local scope, Forecast Evaluation and Research Transferability tests matched outcomes, Sensitivity and Scenario Analysis tests capture/displacement, construction timing, margins and complete funding, and Portfolio Construction and Risk Budgeting compares price and investor constraints.

Source: Marcus & Millichap Minneapolis-St. Paul Hospitality Market Report 1Q 2026 adds the slow-recovery / airport-corporate variant. Marcus forecasts one of the larger 2026 occupancy gains among major U.S. markets, but says occupancy still entered 2026 roughly 790 bps below the 2014-2019 average. Use the source to separate corporate / group-conference demand, MSP Airport / Bloomington upside, and select-service supply restraint from a broad Twin Cities hotel recovery claim. Keep these as dated broker hypotheses: the 790-bps historical gap is not the projected gain, and airport traffic does not establish local overnight demand or property returns. Minneapolis Hospitality Market owns the scope; Forecast Evaluation and Research Transferability tests matched outcomes, Sensitivity and Scenario Analysis tests incremental capture, displacement, margins and complete funding, and Portfolio Construction and Risk Budgeting compares investor-specific alternatives and shared travel-budget exposure.

Source: Marcus & Millichap Las Vegas Hospitality Market Report 1Q 2026 provides a dated recovery hypothesis: a 7.5 percent 2025 visitor decline and roughly 3.9 million fewer room nights, fee / international-travel forecasts, historical occupancy recovery and possible convention weekend extensions. Source: Colliers Las Vegas Hospitality Market Report Q1 2026 adds differently scoped monthly improvement alongside trailing pressure and no reported Q1 sales; these are not one unified series or a complete forecast test. Las Vegas Hospitality Market owns scope, Forecast Evaluation and Research Transferability tests cohorts and outcomes, Sensitivity and Scenario Analysis tests net capture, fees, income mix, expenses and funding, and Portfolio Construction and Risk Budgeting compares investor-specific alternatives. Historical recovery, pipeline descriptions and survey sales alone do not establish stabilized NOI, universal illiquidity or investment rankings.

Source: Marcus & Millichap Seattle-Tacoma Hospitality Market Report 1Q 2026 provides a dated border-travel and event-forecast case. The broker reports hotel demand rising 5 percent in 2024 and declining 1.2 percent in 2025, attributes weakness to Canadian visitation, and reports a 24 percent decline in Canada-to-Washington passenger-vehicle crossings through the first ten months of 2025. The crossings are not a Seattle hotel room-night denominator. Its six planned FIFA matches, pipeline benefit and select-service resilience are source-scoped expectations or relative comparisons, not realized event capture or investment rankings. Seattle Hospitality Market owns scope, Forecast Evaluation and Research Transferability tests conversion and outcomes, Sensitivity and Scenario Analysis tests capture, displacement, costs and funding, and Portfolio Construction and Risk Budgeting compares investor-specific alternatives. Do not treat the past forecast window as current upside or infer annual NOI and diversification.

Source: Marcus & Millichap San Francisco Hospitality Market Report 1Q 2026 adds a dated recovery and visitor-mix case: 11.8 percent reported 2025 RevPAR growth, roughly 10 percent below-2019 occupancy and international arrivals around one-quarter versus roughly one-third pre-pandemic. The different baselines and arrival / spending measures do not define hotel revenue mix. Event, AI-linked office and public-realm support remain proposed channels rather than realized property outcomes. SF Hospitality Market owns scope; Forecast Evaluation and Research Transferability, Sensitivity and Scenario Analysis and Portfolio Construction and Risk Budgeting test comparable cohorts, net event capture, joint margin/funding stress and investor-specific alternatives. The past event forecast windows are not current upside or annual NOI proof.

Source: Marcus & Millichap Cleveland Hospitality Market Report 1Q 2026 adds a dated recovery-normalization case. The broker's 2025 recovery rank relative to the 2014-2019 average, upper-half RevPAR growth and 2026 forecast are separate evidence. Cleveland Hospitality Market distinguishes those comparisons from Rock Hall, America250, waterfront and Brook Park demand hypotheses. Forecast Evaluation and Research Transferability, Sensitivity and Scenario Analysis and Portfolio Construction and Risk Budgeting test comparable outcomes, delivery/capture/margin cases and investor-specific choices before translating tourism context into returns.

Source: JLL Global Hotel Investment Outlook 2026 adds a global capital-market overlay: hotel investment volume improved 22% from the 2023 trough in 2025, international tourist arrivals exceeded pre-pandemic levels, and JLL expects 4.9% global air-passenger growth in 2026. Use it as liquidity and demand-backdrop support, not as evidence that all hotel segments have healed. JLL explicitly pairs better liquidity with uneven operating performance.

Source: Cushman & Wakefield European Outlook 2026 adds a European hotel outlook comparator. C&W expects European hotel stays to rise 5.6% and 2026 hotel investment to exceed EUR27B, while luxury and economy segments lead interest and labour costs / stricter city regulations pressure margins. Use it as Europe-labeled demand and capital-flow context, not as RevPAR, ADR, NOI, cap-rate, or U.S. hotel evidence.

Source: CBRE Asia Pacific Hotel Trends Q1 2026 adds a qualitative APAC hotel comparator. Vietnam is framed as supported by record international arrivals, infrastructure pipeline, limited medium-term supply, and urban / resort investor appetite; Mumbai is domestic / MICE-led with the new Navi Mumbai airport creating repositioning opportunities; and Goa is domestic-leisure-sensitive with luxury and boutique strength on peak weekends. Use it as APAC demand-type context, not as occupancy, ADR, RevPAR, transaction-volume, or price-per-key evidence.

Source: Cushman & Wakefield Seoul Hospitality Report H1 2026 provides the table-grade Korea counterpart: 18.94M international arrivals in 2025, approximately 79% Seoul occupancy, KRW 207,300 estimated RevPAR, approximately 53,675 rooms, and only about 1,000 annual new rooms since 2023. Four-star assets led 2025 transaction activity and all traded assets retained hotel use. Treat Seoul as a source-scoped inbound-demand and constrained-supply comparator; do not generalize its RevPAR, price-per-key, or hotel-to-office conversion dynamics to U.S. lodging.

Source: CBRE UAE Real Estate Market Review Q1 2026 adds a UAE hotel operating point: CBRE reported average UAE hospitality occupancy of 85% during January and February 2026, followed by a shift in occupancy from early March as travel disruptions increased. Use it as source-scoped Middle East hotel context and resilience / disruption evidence, not as ADR, RevPAR, NOI, cap-rate, or U.S. hospitality evidence.

Source: CBRE UAE Real Estate Market Review Q4 2025 adds the prior-quarter UAE hospitality baseline: national hotel occupancy was over 80% and RevPAR was up over 14%, with demand framed around Abu Dhabi ultra-luxury, Ras Al Khaimah MICE / wedding demand, and Dubai premium beachfront resorts. Use this as UAE operating evidence, while keeping the "over" threshold treatment separate from exact STR-style time-series rows. The retained public summary does not identify the comparison period or survey cohort for its RevPAR percentage; verify those definitions before a cross-period comparison. The Q1 summary's 85% figure covers January–February, not the full quarter. Both captures are visible web summaries, not a new review of the blocked linked PDFs.

Source: JLL Global Hotels Investor Sentiment Survey adds the earlier investor-appetite signal: JLL's public page says 80% of investors planned to maintain or increase hotel capital investment and 57% planned to deploy more capital outside their home regions. Use it as sentiment evidence for cross-border capital, urban targets, luxury, extended stay, and operating-company strategies, not as a substitute for operating data or closed transaction comps.

The May 1 Edison Brothers Building report describes renovation of an existing hotel in a historically repurposed mixed-use building that also contains condominiums. Keep the current renovation separate from its earlier warehouse reuse and from a new office-to-hotel conversion. The program amount and named partners do not establish final budget, credit proceeds, achieved room income or broad St. Louis lodging strength. Source: Midas Hospitality Begins $81M Renovation of Historic Edison Brothers Building in St. Louis Use St Louis Hospitality Market for separate market context and CRE Capital Markets and CRE Valuation Methodologies for funding and investor-specific alternatives.

April 2026 hotel signals broaden the 2026 financeability read. The April 24 Cedarbrook Lodge report describes $24 million of nonrecourse, floating-rate, five-year interim refinancing near SEA Airport. The lack of public operating detail does not establish the lender’s underwriting inputs or broad airport-hotel financeability. Test property cash flow and actual loan terms through CRE Capital Markets, value through CRE Valuation Methodologies, and investor alternatives through Hold, Sell, and Refinance Decision Framework. Tempo by Hilton Savannah Historic District opened as a 148-room lifestyle hotel near Reynolds Square, adding a non-adaptive-reuse hospitality comp to Savannah's tourism core. See Source: Cedarbrook Lodge Seattle $24M Refinancing and Source: Tempo by Hilton Savannah Historic District Opens.

Extended Stay America Suites - Houston - Galleria adds an extended-stay example in a wealth-adjacent corporate / retail district. The source is short, but it reinforces that select-service and extended-stay hospitality can sit beside luxury retail and office demand in the same node. See Source: Extended Stay America Houston Galleria Opens.

Backbeat Hotel in Chicago's Northalsted community adds a small boutique-hotel development example outside the conventional CBD / airport / convention-center lanes. The source is early-stage and lacks owner, operator, financing, and exact address detail, so use it as a neighborhood hospitality signal rather than a broad Chicago market benchmark. See Source: Backbeat Hotel Chicago Northalsted.

The May 2026 REBusinessOnline hotel batch adds three property-level examples without enough pricing detail to become market comps. Aloft Hotel Las Colinas is a 136-room 2008-vintage Irving asset with undisclosed buyer / seller and planned capex; Ricardo Marriott DFW Westlake is a 293-room Westlake renovation / rebrand with 15,000 SF of meeting and event space; and Homewood Suites Chicago-Downtown is a 233-room extended-stay hotel near the Magnificent Mile. Use these as asset and format examples, not RevPAR, cap-rate, or price-per-key evidence. See Source: Aloft Hotel Las Colinas Sale, Source: Ricardo Marriott DFW Westlake Renovation, and Source: Homewood Suites Chicago-Downtown Sale.

Indianapolis lodging adds a convention and suburban demand hypothesis in Indianapolis Hospitality Market. Source: Indianapolis Lodging Edges Out National Trends attributes above-pre-COVID room demand to the Indianapolis market for the 12 months ending mid-year 2025. Its separate downtown operating snapshot has an unresolved exact window, and its pipeline boundary is not established as downtown-only. Announced adaptive-reuse / Signia deliveries and Fishers resident, employer and event context require actual completion and net overnight capture before use in hotel underwriting.

Source: Marcus & Millichap Indianapolis Hospitality Market Report 1Q 2026 forecasts Zionsville-Carmel-McCordsville as the only 2026 occupancy-growth submarket and CBD occupancy near 65 percent, with Hamilton County / Westfield / Carmel and event / convention mechanisms. Those dated forecasts and ticket / spectator populations do not establish realized hotel demand. Use Forecast Evaluation and Research Transferability through Indianapolis Hospitality Market for matched outcomes, net stays, competing supply, margins and complete funding.

Source: Marcus & Millichap St. Louis Hospitality Market Report 1Q 2026 attributes 2025 hotel bookings and occupancy growth to convention capacity / overflow and traveler mix. Its reported ranks do not provide a complete peer table or causal estimate. The lighter 2026 calendar, new rooms and steadier airport / southwest demand remain forecasts. St Louis Hospitality Market separates venue facilities, booking blocks, actual stays and supply stages; Forecast Evaluation and Research Transferability tests matched outcomes, Sensitivity and Scenario Analysis tests capture and margins, and Portfolio Construction and Risk Budgeting compares investor constraints and shared exposures.

Source: Marcus & Millichap Detroit Hospitality Market Report 1Q 2026 adds an auto-sector / cross-border bifurcation variant. Marcus says Detroit's 2025 occupancy growth was strongest in economy and luxury hotels while midscale occupancy decreased, Detroit-Dearborn led RevPAR growth at 1.4%, and Windsor Canadian travel fell roughly 11% year over year. Use Gordie Howe Bridge, AlumniFi Field, and automaker production-shift context as demand-channel evidence, not current NOI proof. The segment figures refer to 2025; the Windsor travel window and denominator remain unresolved. Detroit Hospitality Market and Detroit Hospitality and Tourism Cluster Comparison 2026 separate the opened bridge, revised 2028 stadium target and Ford Field event schedule from net stays and margins. Compare prices, full funding, hold periods, liquidity, risk and feasible operator work before an investment conclusion.

Source: Marcus & Millichap Cincinnati Hospitality Market Report 1Q 2026 reports nearly 5% economy-hotel RevPAR growth and more than 300 bps of occupancy gain in 2025, with select- and full-service underperformance. Its planned 700-room hotel and convention/event support are dated hypotheses. Source: 3CDC Cincinnati Marriott Construction Stage Review October 2026 distinguishes later construction reporting from delivered supply or operating outcomes. Cincinnati Hospitality Market owns local scope; Forecast Evaluation and Research Transferability, Sensitivity and Scenario Analysis and Portfolio Construction and Risk Budgeting test comparability, adverse timing/margins and investor-specific alternatives.

Source: Marcus & Millichap Portland Hospitality Market Report 1Q 2026 adds a dated visitor-mix comparison: the broker reports an 8.6% international-traveler decline and roughly 150 bps occupancy decline in 2025, then forecasts different Beaverton-Banks and CBD outcomes. Its pedestrian and convention references do not prove incremental hotel demand. Portland Hospitality Market retains scope; Forecast Evaluation and Research Transferability, Sensitivity and Scenario Analysis and Portfolio Construction and Risk Budgeting test the proposed demand channel, joint capture/cost/funding cases and investor-specific alternatives.

Source: Marcus & Millichap Charlotte Hospitality Market Report 1Q 2026 adds a dated Charlotte demand and supply comparison. The teaser reports CBD outperformance and south-of-CLT weakness and expects delivery acceleration; its causal explanation and limited-service outlook are hypotheses. Charlotte Hospitality Market keeps those scopes separate. Use Forecast Evaluation and Research Transferability to test passenger-to-room-night transfer, Sensitivity and Scenario Analysis to compare openings, booking capture and costs, and Portfolio Construction and Risk Budgeting to test shared demand and funding exposure before ranking investments.

The Goodtime Hotel foreclosure adds a South Beach lifestyle-hotel distress example: a 266-key hotel opened in 2021 faced a scheduled foreclosure auction after a $204M judgment. Use it as loan-enforcement and hospitality leverage risk evidence, not as a completed sale comp. See Source: Goodtime Hotel Foreclosure 2026.

The Moran Hotel CityCentre adds a West Houston mixed-use hospitality ownership example: MetroNational and Rockbridge reportedly bought the 244-room hotel from Midway with price and financing undisclosed. Use it as a hotel asset and district-control signal, not a price-per-key comp. See Source: MetroNational Buys The Moran Hotel CityCentre From Midway.

Gencom's westward acquisition commentary adds a luxury-hotel capital cycle example: a buyer can target high-profile hotels where rate strength exists but ownership has underinvested because of higher rates, maturity pressure, or capital starvation. The duplicate RSS capture is folded into the same source note. Treat the named Ritz-Carlton and New York hotel purchases as source-reported transaction context until property-level records are separately verified. See Source: Gencom Looks West After $1B East Coast Hotel Buying Spree.

The St. Regis Chicago refinancing adds a financeable luxury-hotel counterpoint: Gencom and GD Holdings reportedly replaced $76M of 2023 acquisition financing with a $125M Banco Inbursa loan on the 192-key East Loop asset. Use it as capital-market evidence for high-quality luxury assets, not as RevPAR, ADR, cap-rate, or price-per-key evidence. See Source: St. Regis Chicago $125M Refinancing 2026.

Houston World Cup booking pace adds an event-demand caution: even a global event can produce meaningful downtown booking growth while falling short of early hotel expectations. Use the article as event-window demand color, not as a stabilized RevPAR benchmark or market import. See Source: Houston World Cup Hotel Demand 2026.

The May 2026 rotated RSS batch adds three smaller hospitality examples. Hotel Mockingbird in Dallas is a 296-room renovation / rebrand-management example near the Highland Park / Park Cities demand field. Aloft San Antonio Airport is a 141-room select-service sale with price and seller undisclosed. Salida Inn & Monarch Suites is a 27-room Colorado mountain-market hotel sale at $2.7 million, or $100,000 per key. Use the first two as asset texture, and use the Salida item as a source-attributed small-market price-per-key marker until deed records confirm the transaction. See Source: NewcrestImage Hotel Mockingbird Renovation Dallas 2026, Source: Hunter Advisors Aloft San Antonio Airport Hotel Sale 2026, and Source: Salida Inn and Monarch Suites Hotel Sale 2026.

The planned The Stockman, Auberge Collection pairs a 59-key branded hotel with 95 luxury residences at Steamboat Resort and has a reported $482.5 million project loan arranged by Newmark and provided by GoldenTree Asset Management. Auberge's 2030 opening date remains a target; no loan pricing or operating data is public in the retained releases. Keep the example at the project level. See Source: Newmark Arranges $482.5M Loan for The Stockman Auberge Collection 2026.

The June 2026 RSS verification pass checked the May 18-19 hospitality batch and promoted the usable source notes to reviewed. The batch supports asset-level opening, renovation, refinancing, sale, and ownership-control examples; it does not create a national hotel market table. Keep CBRE Weekly Take landing-page captures metadata-only, keep Indianapolis as a mixed-period narrative source unless period-locked separately, and keep data-tier property rows scoped to announced asset facts unless deed, lender, or operating records support pricing, RevPAR, cap-rate, or NOI claims.

Hospitality is the most operationally intensive major CRE asset class. Unlike office, industrial, or multifamily — where leases provide contracted income streams measured in years — hotels re-price their inventory daily through room rates. This makes hotel investment fundamentally a bet on operating margin, demand volatility management, and brand/flag economics rather than lease credit.

In the 2026 cycle, hospitality capital markets are splitting into three tracks:

1. Distressed legacy portfolios — maturity-wall driven, concentrated in gateway markets
2. Financeable select-service in high-growth corridors — the investable current-cycle thesis
3. Adaptive-reuse bridge assets — hotel-to-residential and office-to-hotel conversions

For the full 2026 capital-markets synthesis, see Hospitality Capital Markets and Adaptive Reuse 2026.

---

Key Metrics

Hotel investment uses a distinct KPI stack compared to other CRE asset classes:

Why RevPAR matters more than vacancy: In office or industrial, vacancy is the primary demand signal. In hotels, the interaction between occupancy and rate (RevPAR) tells you whether the operator is filling rooms by cutting price (weak) or commanding rate at stable occupancy (strong). A hotel at 65% occupancy and $200 ADR ($130 RevPAR) is performing better than one at 80% occupancy and $120 ADR ($96 RevPAR).

---

Segment Taxonomy

Financing evidence: These case reports do not establish a 2026 ranking of loan availability by hotel format. Operating complexity, income, capital requirements and complete lender terms need separate review through CRE Capital Markets. Operating performance by chain scale is not a loan-availability measure.

---

The Three 2026 Tracks

Track 1: Distress (Gateway Legacy Hotels)

The April Bay Area article reports hotel workouts amid interacting maturity, revenue and operating-cost pressure. Its analyst recovery views and buyer examples are counterpoints to further-distress forecasts, not proof of a price floor. The regional revenue comparisons do not establish every asset’s income, debt coverage or current loan terms. Source: Bay Area Hotel Distress Loan Maturities 2026.

Keep demand recovery and financing recovery as separate hypotheses. The report does not establish that Nashville, Austin or DFW lack distress or that a weak-demand hotel should convert. Review legal stage and basis through Distressed Asset Underwriting, remaining funding through CRE Capital Markets, use-change feasibility through Adaptive Reuse of Obsolete Office, and investor alternatives through Hold Sell and Refinance Decision Framework.

Track 2: Property Refinancing and Select-Service Pipeline

The April 2026 Nashville tri-brand Marriott report describes a five-year refinancing for the 506-room property at 410 Rep. John Lewis Way S after its 2025 expansion. It does not establish that brand mix or CBD demand caused approval. Use Nashville Hospitality Market for dated demand context and CRE Capital Markets for debt capacity. Test bookings, franchise obligations, shared costs and capital work before comparing hold, sale or refinancing through Hold Sell and Refinance Decision Framework.

SpringHill Suites New Braunfels River Village is a reported construction and opening-target case. It does not establish funding sufficiency, a local demand floor or brand-driven operating benefits. Keep its rooms separate from the adjacent Courtyard when counting new supply. Test bookings and costs, use San Antonio Hospitality Market as regional context, and review remaining funding through CRE Capital Markets before comparing completion, rephasing, recapitalization or sale through Hold Sell and Refinance Decision Framework.

Track 3: Adaptive Reuse (Hotel as Bridge or Exit)

• Office-to-Hotel: Ritz-Carlton Savannah — reported construction financing for a planned luxury hotel redevelopment of two obsolete office buildings with intended historic tax-credit support. This supplies a candidate use, not delivered rooms, credit proceeds or proof of highest and best use. Test physical fit through Adaptive Reuse of Obsolete Office, funding through CRE Capital Markets, tax benefits through CRE Tax and After-Tax Underwriting, and alternatives through CRE Valuation Methodologies. Source: Ritz-Carlton Savannah Construction Loan (Article Summary)
• Existing Hotel Renovation in a Historic Mixed-Use Building: Sheraton St. Louis Downtown — the report describes planned hotel updates, event space, rooftop use and mural restoration in a building already containing hotel and condominium uses. Building area is not hotel-only renovation area. The reopening and updated room program remain forecasts; named financing and historic-credit partners do not prove complete funding or benefits received. Source: Midas Hospitality Begins $81M Renovation of Historic Edison Brothers Building in St. Louis
• Hotel-to-Multifamily: Red Oak Capital / Covington, LA — reported bridge financing for a planned apartment conversion with intended permanent or agency refinance. Completed conversion, committed takeout and minimal structural work are not established. Test permissions and actual layout through Multifamily Development Underwriting, rents and lease-up through Multifamily Supply-Demand Underwriting, and alternatives through Hospitality Capital Markets and Adaptive Reuse 2026. Source: Red Oak Capital Provides $8.4M Loan for Hotel-to-Multifamily Conversion Project in Covington, Louisiana

---

DFW as Benchmark Market

DFW provides a dated Q3 2025 benchmark. Broader operating coverage is documented in Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 and its Q1 predecessor. Those import and correction receipts record completed integration; this page does not attest to current database counts. Keep the DFW snapshot separate from the preliminary C&W rolling-quarter series:

Dated event context (October 2026): The World Cup is a past event; Universal Kids Resort opened in July 2026. Neither event alone proves hotel occupancy, ADR or RevPAR uplift. See Source: Universal Kids Resort July 2026 Opening.

See DFW Hospitality Market for the full submarket breakdown.

---

Hotel Valuation for Texas Property Taxes

Texas hotel owners face a unique valuation challenge: three competing approaches produce materially different assessed values. The Rushmore, BEA (Business Enterprise Allocation), and O'Connor methods each treat the intangible value of the flag/brand differently, which directly affects tax liability.

Key distinction: hotel property tax valuation must separate real property value from business enterprise value (management contracts, brand affiliation, assembled workforce). Hotels consistently lose property tax protests when they cannot demonstrate what share of income is attributable to the brand vs. the building.

Source: Source: Untangling Hotel Valuation for Texas Property Taxes

---

Compare Evidence Before Underwriting

Research framework, as of October 11, 2026: These records answer different questions. Agreement on a headline does not establish comparable samples or independent corroboration. Use Forecast Evaluation and Research Transferability to match the reporting period, geography, segment, denominator, unit and release vintage before comparing them.

Research Tests

These are remaining research tasks, not claims that the repository has no evidence:

• Comparable operating history: Extend matched source-defined series through more periods and regimes. Preserve the older DFW benchmark, C&W rolling windows and CBRE summary scope. The C&W source records include operating-history extracts; consecutive import receipts alone do not establish a complete current structured time series.
• Transaction pricing and capitalization: Verify dated closed transactions and matching income definitions before using market or segment cap rates. C&W's plotted transaction and cap-rate charts were retained as context without importing exact plotted values.
• Property income and debt: Test room revenue against costs, franchise and management obligations, renovation needs, debt service and refinancing terms. Compare revenue recovery with credit stress through Sensitivity and Scenario Analysis; neither source family supplies the subject hotel's NOI or committed takeout.
• Issuer and asset economics: Compare issuer disclosures with the properties, fees, leverage and business lines they actually cover. A brand or company label is insufficient to transfer issuer results into an asset cash flow or rank a hotel investment. Start hotel ownership comparisons with Park Hotels & Resorts and Pebblebrook Hotel Trust, and business-line comparisons with Hilton Worldwide, Marriott International and Hyatt Hotels Corporation. Verify the actual rights and reporting cohort for each proposed investment; these routes do not establish uniform business models or current issuer performance.
• Supply delivery: Use dated asset records such as SpringHill Suites New Braunfels River Village alongside market pipeline evidence. Separate new rooms from existing campus rooms, targets from delivered supply, and regional cohorts from site-level bookings.
• Distress outcomes: Follow the distinct notice, control-transfer, offering and closed-sale stages in Source: Bay Area Hotel Distress Loan Maturities 2026. Resolve each property's evidence and identity before proposing a structured update; the source record does not attest to current property-table coverage.

For an investment conclusion, record the investor's objective, entry price, horizon, risk tolerance and executable actions. Compare hold, sell, refinance or redevelopment through Hold Sell and Refinance Decision Framework, then test overlapping demand, leverage and liquidity exposures through Portfolio Construction and Risk Budgeting. State what contrary evidence or funding constraint would change the conclusion. These tests are CRET's research synthesis, not measured returns or a recommended allocation.

---

Management and Governance Research

Use the dated case in Source: Braemar Hotel REIT Self-Management Breakup Fee 2026 to distinguish proposed management changes, fee obligations, payment and expected savings. Review Fund Governance and Alignment for actual decision rights and Manager Selection and Sponsor Diligence for execution capacity. Corporate overhead, property management costs and hotel NOI need separate scopes; a planned change does not establish a completed transition or a hotel valuation benefit. Compare governance alternatives with the investor's rights, funding needs and retained-property exposure through REIT Landscape and Portfolio Construction and Risk Budgeting.

Hotel Supply Policy: Mechanism Versus Outcome

Use Source: NYC Hotel Entitlement and Short-Term Rental Scope Review October 2026 and NYC Hospitality Market to separate regulatory scope from market outcomes. Do not convert a registration rule or entitlement-review requirement into a universal room cap, current available-room count or guaranteed pricing power. Verify delivered supply, operating restorations and out-of-service rooms alongside guest demand. Forecast Evaluation and Research Transferability tests the causal explanation; Sensitivity and Scenario Analysis tests delivery, demand and margin scenarios. Compare common policy assumptions across holdings through Portfolio Construction and Risk Budgeting. These routes do not establish the applicability of a rule to an individual property.

Related Pages

• Hospitality Capital Markets and Adaptive Reuse 2026 — full 2026 capital-markets synthesis across five deal types
• DFW Hospitality Market — DFW Q3 2025 benchmarks with segment breakdown
• Asset Classes Hub — hospitality as an emerging/specialty domain
• Adaptive Reuse of Obsolete Office — hotel is one of several conversion paths for obsolete office
• Office Conversion Mechanics and Economics 2026 — hotel-to-residential and office-to-hotel in conversion economics
• CMBS and Special Servicing Stress Q1 2026 — hotel distress visible in special servicing data
• Distressed Asset Underwriting — framework for hotel note purchases and REO
• Nashville — tri-brand Marriott refi signal; Oracle mixed-use campus
• Savannah — Ritz-Carlton office-to-hotel historic redevelopment
• San Antonio — New Braunfels SpringHill Suites adjacent market

Recently Added Market Pages

• St Louis Hospitality Market — convention-capacity, airport, and event-calendar-sensitive hotel read.

Sources

• Source: Universal Kids Resort July 2026 Opening

• Hospitality Capital Markets and Adaptive Reuse 2026 — primary synthesis (5 source packages)

• DFW Hospitality Market — Matthews Q3 2025 benchmarks

• Source: Untangling Hotel Valuation for Texas Property Taxes — REBusinessOnline hotel property tax valuation

• Source: Trepp Lodging Recovery That Wasn't 2026 — CMBS lodging subtype recovery and distress evidence

• Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 — Q2 national and 26-market operating table

• Source: CBRE U.S. Hotel Figures Q2 2026 — CBRE Q2 national growth-rate and location-type cross-check

• Bay Area hotel distress sources via analysis page

• Source: Midas Hospitality Begins $81M Renovation of Historic Edison Brothers Building in St. Louis

• Source: Cedarbrook Lodge Seattle $24M Refinancing

• Source: Tempo by Hilton Savannah Historic District Opens

• Source: Extended Stay America Houston Galleria Opens

• Source: Backbeat Hotel Chicago Northalsted

• Source: Aloft Hotel Las Colinas Sale

• Source: Ricardo Marriott DFW Westlake Renovation

• Source: Homewood Suites Chicago-Downtown Sale

• Source: St. Regis Chicago $125M Refinancing 2026

• Source: NewcrestImage Hotel Mockingbird Renovation Dallas 2026

• Source: Hunter Advisors Aloft San Antonio Airport Hotel Sale 2026

• Source: Salida Inn and Monarch Suites Hotel Sale 2026

• Source: Matthews Hotel Rate Sheet 2026

• Source: CBRE Weekly Take - The Points Guy on Maximizing Brand Loyalty Programs

• Source: Marcus & Millichap Salt Lake City Hospitality Market Report 1Q 2026

• Source: Marcus & Millichap Denver Hospitality Market Report 1Q 2026

September 2026 research follow-up

Public 2020 owner samples show stronger extended-stay occupancy retention than full-service hotels, while hospital/construction adjacency and account concentration remain untested. See Economy Extended-Stay Demand and Volatility 2026.

2026-09-20 — Hotel irreplaceability and counterparty discipline

Complete selected publisher body actually read. The complete description and chapter list attribute resort strategy to Sean Hehir and Trinity Investments. Recording was July 21 2026; later release does not update conditions automatically. Named hotels are discussion topics, not proof of current holdings, recorded transfers or sale prices. Test barriers to replacement, renovation costs, seasonality, amenities, operator/brand/lender terms and alternatives. Biography and cap-rate strategy are attributed, not verified outcomes. No audio or enclosure acquired.

Source: Source: RSS Trinity Investments CEO on Buying Hotels Nobody Else Can Build. These questions do not broaden publication eligibility of other material on this page.

2026-09-25 — Hotel experiential booking and ancillary revenue hypothesis

Complete selected publisher body actually read. The complete matching notes and transcript describe combining hotels, golf/spa and events into one checkout. Speaker/platform spellings differ and partnerships, instant confirmation, launch success and trillion-dollar travel markets are unverified. Hotel operations provide the real-asset relevance. Compare actual booking integration, incremental occupied nights, cancellations, distribution fees, margins and service performance; no market-size or hotel-property fact is imported. No audio or enclosure acquired.

Source: Source: RSS Booking Golf Trips Just Got Easier: Inside a Travel Tech Startup. These questions do not broaden publication eligibility of other material on this page.

2026-08-19 — Marina operating structure and exit market questions

Complete selected publisher JSON description actually read. The complete summary describes Ethan King’s marina/boat-storage thesis. In-house operating superiority, institutional consolidation and inefficiency are attributed assertions, not verified acquisitions or comparative returns. Compare water rights, permits, storm/flood risks, dock condition, storage, labor, rents, seasonality, capital needs and exit buyers. No named marina or executed terms are supplied. The matching public player shell and exact episode-specific public JSON are both retained. No full spoken review is claimed and no audio or enclosure acquired.

Source: source-rss-6650bfcc26539575241af93e. These questions do not broaden publication eligibility of other material on this page.

New Orleans: Event Bases, Operating Quarters and Project Scope

New Orleans Hospitality Market links CBRE's attributed Q1 event-base explanation, kept C&W Q1 / Q2 volume and rates, and the proposed landside casino with the existing hotel retained. Keep relative occupancy units, preliminary periods, overlapping provider inputs and gaming / lodging uses separate. Forecast Evaluation and Research Transferability tests matched outcomes, Sensitivity and Scenario Analysis tests net stays, displacement, costs and complete funding, and Portfolio Construction and Risk Budgeting compares investor constraints and shared exposures.

Oahu Hotels: Volume Growth and Falling Rates

Source: Cushman & Wakefield U.S. Hospitality MarketBeat Q2 2026 reports rising Oahu rented nights and occupancy alongside lower ADR and modest RevPAR growth. Urban Honolulu Hospitality and Tourism Market owns the provider cohort and visitor / airline / corridor boundaries. Forecast Evaluation and Research Transferability tests matched outcomes, Sensitivity and Scenario Analysis tests net stays, displacement, room competition, margins and funding, and Portfolio Construction and Risk Budgeting compares investor alternatives and common exposures. Island aggregates do not establish traveler-origin causation, a lodging census or Waikiki / North Shore income.

DFW Hotel Benchmarks and Capture Tests

DFW Hospitality Market distinguishes historical construction and transaction samples, broker service-format / submarket outcomes, dated event / project forecasts and preliminary Dallas quarterly observations. Airport movements, corporate jobs, event attendance and county households do not establish hotel room nights. Forecast Evaluation and Research Transferability, Sensitivity and Scenario Analysis and Portfolio Construction and Risk Budgeting connect matched capture, displacement, competing rooms, margins, funding and investor constraints to property-specific hypotheses.

Memphis Visitor Context and Hotel Evidence

Memphis Hospitality and Tourism Market separates visitor populations, hotel-room stocks and economic-impact estimates from actual hotel operations. Forecast Evaluation and Research Transferability matches cohorts, geography, periods and denominators. Sensitivity and Scenario Analysis tests net stays, displaced guests, competing rooms, rates, costs and full funding. Portfolio Construction and Risk Budgeting compares investor constraints and common exposures across downtown, airport and Tunica hypotheses. Neither survey shares nor airport adjacency establish an asset return.

Baltimore Fiscal Periods and Visitor Populations

Baltimore Hospitality and Tourism Market preserves conflicting City occupancy panels, historical fiscal-quarter rates and separate destination visitor populations. Forecast Evaluation and Research Transferability, Sensitivity and Scenario Analysis and Portfolio Construction and Risk Budgeting connect matched hotel outcomes, net stays, margins and funding to investor constraints. Evidence: Source: Baltimore Tourism and Hospitality Evidence 2026.

Milwaukee County Tourism and Hotel Outcomes

Milwaukee Hospitality Market distinguishes county economic impact, direct spending, port calls and downtown employment from hotel operations. Forecast Evaluation and Research Transferability, Sensitivity and Scenario Analysis and Portfolio Construction and Risk Budgeting connect net stays, competing rooms, margins, full funding and investor constraints. Support: Milwaukee-Waukesha Market Intelligence 2026.

Sacramento Hotel Populations and Investor Tests

Sacramento Hospitality and Tourism Market keeps dated provider classes, submarkets, trailing periods and forecasts distinct. Compare paid stays, displacement, competition, costs and complete funding before making a property conclusion.

Evidence context: Source: Sacramento Market Intelligence 2026 Refresh.

Birmingham hotel population test — 2026-10-12

Birmingham Hospitality and Tourism Market is a bounded tourism-to-hotel example: county study context, conflicting tax / visitor labels, regional BJCC impact and airport movements do not supply hotel operating outcomes. Compare event, medical, airport and leisure capture using actual net paid stays, displacement, room competition and achieved margins.

Mobile hotel population test — 2026-10-12

Mobile Hospitality and Tourism Market and Mobile Hospitality Evidence Crosswalk 2026 connect a retained provider hotel series to county tourism, destination bookings and named project/property routes. Preserve annual / quarterly / T12 differences, undated ranking-panel revenue, source KPI discrepancies and guest-paid versus advertised rates. Test actual net stays, displacement, room competition, margins, insurance and full funding before asset selection.

Hot Springs: municipal context and missing hotel series

Hot Springs Hospitality and Tourism Market is a bounded seed case: retained resident context and city airport planning do not establish hotel operating results. Use Hot Springs Geography Hub to reach the local evidence gate. Test matched paid stays, displacement, competing rooms and project execution before using infrastructure or visitor hypotheses in an investment conclusion. The local page routes comparison, downside and portfolio tests without adding a numerical benchmark.

Little Rock: Guest-Purpose Hypotheses and Missing Hotel Metrics

Little Rock-North Little Rock-Conway Hospitality and Tourism Market connects proposed government / event, medical, airport / business and leisure explanations to distinct local routes. The retained source stack does not establish their guest-purpose shares or a metro hotel operating table. Use the local framework for matched paid stays, displacement, room competition, expenses and full funding; Little Rock-North Little Rock-Conway CRE Capital Allocation 2026 keeps property strategy and investor constraints explicit.

Boise: Provider Populations and Hotel Capture

Boise City Hospitality and Tourism Market separates Boise-area stays, Region 3 lodging collections, 2023 travel-impact context and 2025 airport passengers. Unknown lodging windows and different populations prevent derived ADR. Its local routes compare guest-purpose hypotheses, counterevidence, net paid capture and complete funding; Boise City CRE Capital Allocation 2026 connects those tests to investor constraints.

Spokane: County Visitor Models and Hotel Capture

Spokane-Spokane Valley Hospitality and Tourism Market separates reported county visitor-economy estimates from paid hotel outcomes. Its local hypotheses compare downtown events, medical/university visits, airport/business stays and leisure substitution using common operating evidence and counterevidence. Spokane-Spokane Valley CRE Capital Allocation 2026 connects those tests to price, investor objectives, holding period, risk tolerance, available work and complete funding.

Providence-Warwick: Attributed Event Comparisons

Providence-Warwick Hospitality and Tourism Market keeps statewide visitor estimates and bureau event-comparison claims separate from matched hotel operations. Its local research routes compare event, airport, institutional and coastal stay hypotheses with counterevidence and full operating costs. Providence-Warwick CRE Capital Allocation 2026 connects those tests to price, investor objectives, holding period, risk tolerance, available work and complete funding.

Richmond: Competing Stay Hypotheses

Richmond Hospitality and Tourism Market connects downtown, sports/district, medical/university and airport stay questions to separate local routes. Compare actual net paid nights and matched hotel outcomes against same-day travel, local attendance, displacement and overlapping guest purposes. Richmond CRE Capital Allocation 2026 connects those tests to investor constraints, achievable operator work, costs and complete funding. These research routes add no numerical hotel benchmark.

Hartford: Airport and Institutional Research Routes

Hartford Hospitality and Tourism Market routes airport, civic/corporate and institutional stay questions to distinct local corridors and common comparison, downside and portfolio frameworks. Hartford-East Hartford-Middletown CRE Capital Allocation 2026 connects that diligence to investor constraints. These routes add no hotel operating benchmark or guest-purpose allocation.