Airbnb Still A Plus For Austin's Hotels
During SXSW, For Now
During the clamor of one of the busiest lodging weeks of the year, CBRE Hotels Director Jeff Binford suggested hotels owe a debt of gratitude to short-term rental options such as Homeaway and Airbnb.
SXSW is a mammoth $325M event for Austin, something akin to the Super Bowl in terms of economic impact. And that economic benefit is spread far and wide, from concert venues and local clubs to the guy who rents out his…
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These Might Be The Last New Condo Views In Austin Until 2022
Austin is expected to deliver 800 condominium units in the next year, and then pause for at least four years before another project comes to market.
Four downtown condo projects — The Independent, Proper Hotel & Residences, Fifth & West and…
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Texas Takes Home Award For Most Economic Development Projects For Sixth Straight Year
For the sixth consecutive year, Texas took home Site Selection Magazine's Governor's Cup, awarded to the state with the most economic development projects. Texas dropped from 642 projects in 2016 to 594 in 2017 but still finished well in front of…
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Hotel Investment To Drag In 2018?
Despite the renewed strength of the hotel sector during this prolonged period of economic expansion, anticipated hotel investment activity this year can be summed up in one three-letter word: meh.
“[Hospitality] is a volatile industry compared to other types of real estate. The market was looking great up until about two years ago — then it became ‘cautious optimism,'” Newmark Knight Frank Valuation and Advisory Executive Vice President Bryan Younge said. Younge also leads NKF's Hospitality, Gaming and Leisure Group. “It's good now, but not expected to get a lot better."
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The New Closers: Why Kiser Group's Aaron Sklar Is One To Watch
Kiser Group Director Aaron Sklar is still relatively new to commercial real estate but his rise in only two years is impressive. The 29-year-old Detroit native was promoted to director last month after closing on nearly $53M in transactions last year, and he completed deals totaling over $67M in his young career.
Sklar, an economics major from the University of Michigan, decided to pursue a career in real estate after working for years as a day trader, a job which he said did not utilize his biggest assets: an energetic, outgoing personality and an outsized self-confidence.
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EXCLUSIVE: IRR Fights Back Against JLL, NKF ‘Open Season' Hunt For Talent
Deals in the last two years may make Integra Realty Resources seem like a CRE valuation sitting duck waiting to get poached by bigger corporations, but it is fighting back with new offices to regain lost market share.
“When JLL acquired a third one of our offices, it was labeled as open season,” IRR Chairman Anthony Graziano said. “At the time, my partners looked at it and said it was terrible. I said what this proves is our people and processes are valuable."
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Beleaguered REITs Hope Tax Reform Could Turn The Tide In Their Favor
Real estate investment trusts have been out of favor for some time. They underperformed significantly compared to the rest of the stock market last year and have continued to slump into 2018. Rising interest rates means many investors may continue to view them as a poor place to park money.
Some industry experts are pinning their hopes on the changes to the tax code turning things around for the sector, although there is little sign it has had much of an impact just yet.
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3 Reasons To Start Your Career As An Inside Sales Associate
If you or someone you know is interested in joining the Bisnow inside sales team, send your résumé to careers@bisnow.com with the subject line "Inside Sales Associate.”
The next generation of recent graduates is entering the workforce, and they are bringing with them…
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