Monitoring Team Meets with Court Over Progress of MPD Sanctions
Public Records & Notices View a complete day’s public records and notices at memphisdailynews.com. www.chandlerreports.com Friday, August 30, 2019 MemphisDailyNews.com Vol. 134 | No. 139 Rack–50¢/Delivery–39¢ Memphis-area hotels post strong 2019 so far, but slower growth expected WAYNE RISHER Courtesy of The Daily Memphian containing more than 24,000 new rooms in a construction boom Above average supply growth senior managing director of CBRE Memphis hotels are having a rooms, are trending above the that has yet to peak. and proliferation of Airbnb rooms Hotels’ America Research.Their strong year, despite a glut of new 2019 national forecast in growth Local hoteliers have made were cited as possible factors in forecast was for slowing growth, rooms, competition from Airbnb of rooms available, rooms sold, little headway in raising prices for keeping the brakes on room prices. but no recession, and low single- and fears of a cooling economy, occupancy and revenue per room. rooms, with average room rates Th e industry trends and forecast digit growth for the hotel industry industry experts said during the But the numbers aren’t as good down nearly 1% citywide and fl at segment of the Lodging Summit over the next 18 months. Southern Lodging Summit on for a 19-hotel, 3,297-room Down- Downtown year to date. Th at com- featured Robert Bowers Jr., senior Woodworth said CBRE is Wednesday, Aug. 28. town submarket, where demand pares to a tepid, 1.1% increase in vice president of STR (Smith Travel The area’s 258 hotels, hasn’t kept pace with addition of room prices nationally.
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