When the Pendulum Stops Swinging

H. Keith Thompson | November 10, 2023

By H. Keith Thompson I have been a hotel broker for 33 years and during all past cycles, the markets would simply swing from being either a seller’s market or a buyer’s market and then after a correction, swings back again. Using a swinging pendulum as a metaphor for the hotel real estate market today, the pendulum has almost stopped swinging. In my history as a hotel broker, the only time the pendulum almost stopped swinging was just after 911 and this new interest rate cycle we all find ourselves in today. In 2023, new transactions in the hotel space are down 50-70 percent depending on the brand and the market. Today it is neither...