Against the popular belief that hotel projects suffered hugely because of cost and interest overruns during the pandemic, the hotel development cost survey by Hotelivate has revealed a remarkable decline in average IDC (Interest During Construction) of hotels in the last three years.
San Diego tourism is surging. Hotel sales are plunging. What gives?
Statewide, the decline in hotel sales so far this year is the steepest drop in two decades as lenders shy away from financing multi-million-dollar transactions.
