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Which Property Types Were Most Impacted by Covid-19

September 13, 2021 by Marcus & Millichap Research Services

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

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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