Insight
The US CMBS delinquency rate for limited-service hotels has more than doubled since 2022, pointing to growing financial strain across parts of the market.
Why the Hotel Business Is Entering an Owner-First Era
Summary
The hotel industry is shifting toward an owner-first approach, driven by rising costs, thinning returns, and asset-light growth models. Minor Hotels focuses on an "asset-right" strategy, blending ownership with management agreements. This shift emphasizes operational efficiency and long-term asset performance, with conversion-led opportunities becoming more prevalent.
Key takeaway