MSNBC title American hotel supplies article New Orleans-area hotel supplies avedas brand,American hotel supplies source MSNBC article New York-area hotels have become more common in recent years.
In 2016, hotel supplies totaled $1.4 billion, an increase of about $250 million, the National Association of Realtors reported in 2017.
The growth in hotel supply has been fueled by the popularity of luxury hotels in recent decades, said Jim McClellan, chief economist at The Realtor Group, an industry research and consulting firm.
The average price of a room in an American hotel room rose from $8,100 in 1980 to $11,500 in 2019, according to a survey from the New York Times.
American hotel stocks have soared since the financial crisis in 2008, rising more than 25 percent in the year before the financial crash, according the brokerage firm CBRE.
The stock market is down since the crisis, but the price of American hotels is up.
American hotels are also getting cheaper.
According to CBRE, the average price for a room at an American property is $3,000 lower in 2019 than it was in the years before the crisis.
American stocks have gained more than 20 percent over the past two years.
The stocks are up by a whopping 70 percent since the end of the Great Recession.
In 2017, the stock market gained almost 80 percent from the year prior, according CBRE’s annual survey.
American homes are also seeing an uptick in demand, with home prices rising faster than overall inflation.
The National Association for Home Builders said this year that home sales in the United States rose by 9.3 percent, the biggest increase in the past 20 years.
That’s the biggest gain in the entire nation since 2010, according NARBI, the nonprofit organization that represents builders.
Americans are also buying more furniture and home goods.
Last year, American home sales rose by 2.5 percent.