Which Property Types Were Most Impacted by Covid-19
Hotels Saw Summer Surge, But Recovery Bifurcated
- July Hotel occupancy was 69.6%, up from 47.1% last year but below 2019; daily room rates 6% above July 2019
- Drivable resort destinations and Hotels along highways recovering faster than those catering to business travelers
- Hotel investors foresee solid recovery; 47% view now as a good time to buy hotels, strongest sentiment since 2012
Seniors Housing Poised for Strong Comeback
- While Seniors Housing saw a modest rise in occupancy in 2Q 2021, the vaccine provides an optimistic outlook
- 76% of investors anticipate values to rise by 7.5% in the next year, and 67% think it is a good time to buy
Large Amount of Uncertainty Remains
- Delta variant surge hampered Retail and Office recovery
- Only 17% of Retail investors see now as good time to buy as sit-down restaurants and indoor malls face headwinds
- Majority of Office investors believe now is a good time to hold as companies continue to delay return to office
As of 2H 2021
Base: All respondents; bases vary by property type currently invested in.
Sources: Marcus & Millichap Research Services, M&M/WMRE Investor Survey