Travelers are continuing their return to hotels, and they are paying record rates for their rooms.
The national average daily rate for a room in March was $146.61, the highest for any month on record, according to hospitality data provider STR. However, STR did note that, when adjusted for inflation, the March ADR was about 2% below the same metric for March 2019.
Photo by Vlad Alexandru Popa at Pexels
August 4, 2023
400 new affordable apartments were announced for the Financial District this past week. Roughly a third of the new buildings at 5 World Trade Center, will be set aside for middle- and working-class New Yorkers, with 80 of those apartments earmarked for people who lived and worked near the old World Trade Center as well… Read more »
May 22, 2023
“The mortgage refinancing boom is over, but its impact will be seen for decades to come”. Fed data shows that about 14 million mortgages were refinanced during the pandemic period starting in March 2020. Some 64% were considered “rate refinances,” or homeowners looking to take advantage of lower borrowing costs. Average savings totaled about $220… Read more »
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