“Q1: Office, Mall and Lodging Investment” plus 3 more |
- Q1: Office, Mall and Lodging Investment
- Corporate Lodging Consultants Powers Savings on Workforce Travel
- Choice Hotels International Participating in First-Ever Industrywide Promotion to Stimulate Travel
- Embassy Suites Hotels Teams Up with The Last Airbender to Bring Adventure Back to Summer Vacation
| Q1: Office, Mall and Lodging Investment Posted: 03 May 2010 10:36 AM PDT Here are graphs of office, mall and lodging investment through Q1 2010 based on the underlying detail data released by the BEA today ...
This graph shows investment in offices as a percent of GDP. Office investment as a percent of GDP peaked at 0.46% in Q3 2008 and has declined sharply to a new all time low (as a percent of GDP). Reis reported that the office vacancy rate rose to the highest level since the early '90s in Q1 2010 at 17.2%, up from 17.0% in Q4 and 15.2% in Q1 2009. The peak vacancy rate following the 2001 recession was 16.9%. With the office vacancy rate still rising, office investment will probably decline further - although most of the decline in investment has already happened. Office investment is usually the most overbuilt in a boom, but this time the office market struggled for a few years after the stock market bubble burst and there was comparatively more investment in malls and hotels.
Investment in multimerchandise shopping structures (malls) peaked in 2007 and has fallen by over 50% (note that investment includes remodels, so this will not fall to zero). Mall investment is also at an all time low (as a percent of GDP) and will probably continue to decline through 2010. Reis reported that the mall vacancy rate in Q1 2010 was the highest on record at 8.9% for regional malls, and the highest since 1991 for strip malls.
The recent boom in lodging investment was stunning. Lodging investment peaked at 0.32% of GDP in Q2 2008 and has fallen by almost 2/3rds already.. I expect lodging investment to continue to decline through at least 2010. As projects are completed there will be little new investment in these categories for some time. Notice that investment in all three categories typically falls for a year or two after the end of a recession, and then usually recovers very slowly. Something similar will probably happen again, and there will not be a recovery in these categories until the vacancy rates fall significantly. Five Filters featured article: The Art of Looking Prime Ministerial - The 2010 UK General Election. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Corporate Lodging Consultants Powers Savings on Workforce Travel Posted: 03 May 2010 08:08 AM PDT WICHITA, Kan., May 3 /PRNewswire/ -- When the power industry is on the move to keep the country running, Corporate Lodging Consultants (CLC) supplies significant savings on business lodging along the way. Thousands of companies already save money with CLC's business lodging solutions and its CheckINN Direct business savings card for smaller and independent businesses. "There are many moving pieces to the power industry, whether it's transporting heavy equipment or providing plant maintenance or other power services," said Alex Calder, CLC National Account Manager. "These jobs may last days, weeks or even months, so the savings that CLC provides for workforce travel quickly adds up to a competitive edge." Utility, power generation and electrical companies can learn more about CLC's lodging management programs at the Electric Power 2010 conference, Booth 1649 in Baltimore, Md., May 18-20. CLC also will staff Booth 15833 during Windpower 2010 in Dallas, Texas, May 23-26. Cost management and convenience are at the forefront of CLC's company lodging services, boosted by a comprehensive hotel network across the U.S. and Canada. In addition to the considerable hotel savings on workforce lodging, clients gain extensive operational benefits including direct billing, improved tracking and reporting, and 24-hour support for travelers on the road. "The power industry covers a lot of personnel who are on the go," Calder said. "When jobs across the power supply chain require hotel stays, CLC has the expertise and scope to save companies money." Businesses that want to start saving on business travel should call (866) 362-0739, e-mail sales@corplodging.com or visit CLC in Booth 1649 at Electric Power to find out more. Businesses ready to sign up now for CheckINN Direct can use key code ELECP for special pricing. Corporate Lodging Consultants (http://www.corplodging.com) is a division of FleetCor, the Global Fleet Card Company. CLC has more than 30 years experience as a leading provider of lodging management programs to businesses, serving thousands of clients in North America. CLC's clients purchase more than 9 million room nights annually across CLC's proprietary network of thousands of hotels. This press release was issued through eReleases(R). For more information, visit eReleases Press Release Distribution at http://www.ereleases.com.
Five Filters featured article: The Art of Looking Prime Ministerial - The 2010 UK General Election. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Choice Hotels International Participating in First-Ever Industrywide Promotion to Stimulate Travel Posted: 03 May 2010 06:00 AM PDT SILVER SPRING, Md., May 3 /PRNewswire-FirstCall/ -- Choice Hotels International, Inc. ( Discover America Daily Getaways, a promotion of the U.S. Travel Association sponsored by The Choice Privileges rewards program is offering nights at Comfort Inn, Comfort Suites and Cambria Suites brand hotels that will be available on Monday, May 17, 2010 through DailyGetaways.com.* "We are very excited to be supporting this innovative program and look forward to welcoming travelers to our Comfort Inn, Comfort Suites, and Cambria Suites hotels," said Stephen P. Joyce, president and chief executive officer, Choice Hotels International and national chairman, U.S. Travel Association. "This is a prime example of U.S. Travel doing what it does so well -- working closely with a wide variety of industry partners to promote travel to and within the United States." "Discover America Daily Getaways is a win-win for consumers and the industry," said Roger Dow, president and CEO of the U.S. Travel Association. "With the challenges everyone has faced, the travel industry is coming together for the first time ever to provide a unique, limited-time opportunity for Americans to buy products and take a trip they may not have considered the past couple years." Any U.S. resident 18 or older with a major credit card may purchase from an inventory of specially priced travel products offered by 25 leading travel companies related to hotels, airlines, rental cars, attractions and theme parks, dining and shopping, among others. Additionally, any "With travel and tourism being major drivers of the U.S. economy, DailyGetaways.com features travel offers for sale at significant value from a different leading brand each weekday until the limited inventory is sold out. At the same time, Upcoming products and auctions will preview five days in advance for consumers who want to be sure to capture these one of a kind deals. Consumers can also signup for daily alerts at DailyGetaways.com. Additional deals and special travel offers from Daily Getaway participants are available on DiscoverAmerica.com, the official travel and tourism website of the United States. DiscoverAmerica.com is the nation's most authoritative source of travel information on all 50 states and more than 120 U.S. cities and includes unique trip-planning tools to help travelers plan vacations. About Choice Hotels Choice Hotels International, Inc. franchises more than 6,000 hotels, representing more than 485,000 rooms, in the United States and more than 35 other countries and territories. As of March 31, 2010, more than 600 hotels are under construction, awaiting conversion or approved for development in the United States, representing more than 52,000 rooms, and more than 100 hotels, representing approximately 8,200 rooms, are under construction, awaiting conversion or approved for development in more than 20 other countries and territories. The company's Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brands serve guests worldwide. In addition, via its Ascend Collection membership program, travelers in the United States, Canada and the Caribbean have upscale lodging options at historic, boutique and unique hotels. Additional corporate information may be found on the Choice Hotels International, Inc. Web site, which may be accessed at www.choicehotels.com. About U.S. Travel Association The U.S. Travel Association is the national, non-profit organization representing all components of the $704 billion travel industry. U.S. Travel's mission is to increase travel to and within the United States. For more information, visit www.ustravel.org. About About DiscoverAmerica.com Discover America, LLC is a wholly owned entity of the U.S. Travel Association and operates DiscoverAmerica.com, the Official Travel and Tourism Website of the United States, for U.S. resident travelers and for international travelers. The international sites were developed under a cooperative agreement with the Choice Hotels, Choice Hotels International, Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge, Rodeway Inn and Ascend Collection are proprietary trademarks and service marks of Choice Hotels International. *Requires valid Choice Privileges membership. If you are not already a member, you can join for free at choiceprivileges.com. Within five (5) business days from date of purchase, you will have the applicable amount of Choice Privileges points deposited into the Choice Privileges account provided at time of purchase which can be redeemed for the stay package.
Five Filters featured article: The Art of Looking Prime Ministerial - The 2010 UK General Election. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Embassy Suites Hotels Teams Up with The Last Airbender to Bring Adventure Back to Summer Vacation Posted: 03 May 2010 05:30 AM PDT MCLEAN, Va.--(BUSINESS WIRE)--For families seeking a break from the norm this summer, Embassy Suites Hotels, the upscale, all suites hotel chain, offers them more reasons to stay – and more thrills to be had – with the announcement of its "Embassy Suites The Last Airbender Sweepstakes."* In celebration of "We are thrilled to be able to offer our guests the chance to live out the adventure and excitement embodied in The Last Airbender," said John Lee, vice president, Brand Marketing - Embassy Suites Hotels. "Embassy Suites is proud to partner with Paramount Pictures and Nickelodeon Movies, brands that share in our mission to bring fun, unique experiences to families across the country." "This exciting offer from Embassy Suites helps us to introduce traveling families to the incredible worlds brought to life in The Last Airbender movie," commented LeeAnne Stables, executive vice president of Worldwide Marketing Partnerships at Paramount Pictures. "It's an epic adventure film all audiences are sure to enjoy." The four grand prize winners will have the opportunity to embark on one of the following Hawaiian adventure excursions themed to the film:
Fifty runners-up will receive a Nintendo Wii Game System and accompanying The Last Airbender video game. Embassy Suites Hotels will announce the grand prize winners on or about To book their stay, guests can visit www.embassysuites.com, www.embassysuitesthelastairbender.com or call 1-800-EMBASSY and select the "The Last Airbender" promotion rate during the booking process. About Embassy Suites Hotels Founded in 1984, Embassy Suites Hotels defines the upscale, all-suite segment and today has 206 hotels, with an additional 43 in the pipeline. With spacious two-room suites, engaging team members and an inviting atrium environment, guests are allowed to put their feet up and feel right at home. To learn more, visit www.embassysuites.com. About Hilton Worldwide Hilton Worldwide is the leading global hospitality company, spanning the lodging sector from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels. For more than 90 years, Hilton Worldwide has been offering business and leisure travelers the finest in accommodations, service, amenities and value. The company is dedicated to continuing its tradition of providing exceptional guest experiences across its global brands. Its brands are comprised of more than 3,500 hotels in 81 countries and include Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton, Doubletree, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages the world-class guest reward program Hilton HHonors. For more information about the company, please visit www.hiltonworldwide.com. About Paramount Pictures Corporation Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Viacom ( Notes to Editors *No purchase necessary. Embassy Suites The Last Airbender Sweepstakes is open to legal residents of the U.S., Puerto Rico, & Canada (excl. Quebec) of the majority age as of May 2, 2010. Starts 12:01am EST May 3, 2010, ends 11:59pm EST August 31, 2010. Void where prohibited. Subject to Official Rules, available at embassysuites.com/thelastairbender. Sponsored by Hilton Worldwide. **Offer valid while supplies last at participating Embassy Suites Hotels. Limit two prize packs per room per stay. Additional packs may be purchased at time of check-in. Five Filters featured article: The Art of Looking Prime Ministerial - The 2010 UK General Election. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
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