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SOHO - A Rough Industry Structure For Hotel Owners
Sotherly Hotels Inc.
From a revenue perspective, hotels have been great. RevPAR continues to set record highs and the outlook remains strong. However, hotel owners have not done as well as they should have, largely due to being at the most disadvantaged part of the industry structure. Specifically, Online Travel Agencies (OTAs) and Brands are financially bullying hotel owners and capturing the lion’s share of the profits.
This article will discuss the underlying structural forces that created this imbalance and look at what this means for hotel REIT investors.