Resort Hotels and Recession

by Jack Corgel, Ph.D., CBRE Consultant | Nov 30, 2022

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Key Takeaways
  • The financial performance of all hotels has been the worst during recession periods.
  • CBRE’s Annual Trends® data show that resort properties are not resilient to recessions but have consistently recorded the poorest performance during prior economic downturns.
  • Financial performance during years subsequent to officially designated recessions, such as 2003, 2004, 2011, were also quite weak. This suggests that National Bureau of Economic Recession (NBER) recession periods may not be the best indicators of hotel industry downturn durations.