Hotel recovery isn't waiting on rate cuts
先了解这件事
The piece signals that hotel investors should not underwrite on the assumption of rate cuts, and the split between operating performance and deal execution could shape asset pricing, financing and distressed-asset strategies.
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- Hotel Dive FeedHotel recovery isn't waiting on rate cuts
In an opinion piece, AWH Partners co-founder Russ Flicker argues the 2026 first-half hotel recovery was driven by demand rather than monetary policy. CoStar and Tourism Economics upgraded their full-year 2026 U.S. RevPAR growth forecast to 2.8% after national RevPAR rose 4% year over year in the first four months and the first quarter set a record, while the Fed held its benchmark rate at 3.5% to 3.75% in the first half. The article distinguishes operating from transaction fundamentals: stabilized asset cap rates are around 8.0% to 8.5% and upscale/upper-midscale near 9.5%, both multiyear highs, and nearly 70% of the $18.7 billion in hotel CMBS loans maturing in 2026 carry floating rates.