marcus r. lee
The Rebounding San Diego Lodging Market Attracts Investor Interest
Marcus Lee | September 11, 2023
By Marcus Lee Following the COVID-19 pandemic and the significant decline in market performance, hotel demand levels in Greater San Diego[1] have rebounded. Some factors supporting the recovery included the following: Stability within the government and military sector Increased business activity, including growth in the biotechnology and life-sciences sectors, as six San Diego-based companies, including Janssen and Pfizer, worked on the production of the COVID-19 vaccine The strong rebound in leisure travel and the popularity of the region as a tourist destination A quick rebound in passenger traffic at San Diego Internat...
Recovery Outlook for the San Diego Lodging Market
Marcus Lee | May 5, 2022
By Marcus R. Lee Amid a worldwide pandemic, RevPAR for Greater San Diego fell approximately 50.0% in 2020 from 2019 levels.[1] This compares to a 47.5% drop for the United States as a whole and a 57.6% drop for the top 25 markets in the nation, according to STR. By year-end 2021, the greater San Diego market’s RevPAR had recovered to just under 80.0% of the pre-COVID performance. This rebound is less than the 83.0% recovery experienced nationally, but stronger than the 67.0% recovery of the top 25 markets. On June 15, 2021, the State of California retired the majority of its COVID-19 restrictions and entered a statewide reopening phas...
Market Pulse: Orange County Beaches, CA
Marcus R, Lee | September 27, 2018
By Marcus R. Lee, Steven Kim, Eric Yiankes Whether it's manicured beach towns or celebrated theme parks, Orange County stands out as one of California's most iconic destinations. Located about an hour south of Downtown LA and two hours north of San Diego, Orange County remains a novelty for visitors and locals alike. Orange County relies on tourism, state and local government activity, and renowned institutions of higher education for its economic livelihood. The Newport Beach, Huntington Beach, and Costa Mesa hotel submarkets have experienced varied activity over the last three years, with transactions, renovations, and re-brandings, a...
HVS Market Pulse: Annapolis, MD
Marcus R. Lee | April 26, 2018
By Marcus R. Lee, Chelsey Leffet Annapolis, Maryland's capital, is a historic seaport located 30 miles south of Baltimore and 30 miles northeast of Washington, D.C. Annapolis relies on tourism, state and local government activity, and renowned institutions of higher education for its economic livelihood. The Annapolis hotel market has been very stable over the last five years, with no proposed hotel development on the horizon. There have, however, been two hotel transactions in the last year, indicating the attractiveness and economic viability of this high-barrier-to-entry market to investors. Average rates for the city's hotels have r...