A Comprehensive Record of the Lodging Market’s Q4 Transactions

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NEW YORK—At several points during 2019 many market participants believed the grind higher was going to come to a halt. However, this did not occur, even after a tumultuous 4Q18 where many experts were calling for a downturn. Although America’s financial system has been buffeted by a slowing global economy and the U.S. instigated trade war with China, it has been buoyed by the lowest unemployment levels during the past 50 years, and rising incomes which have fueled consumer spending and a generally optimistic sentiment.

Although the U.S. economy is on solid footing, the longest period of expansion in its history places the nation in uncharted territory. The recent signing of a Phase One U.S./China trade agreement, which represents a formal truce, and the pending Canadian ratification of the United States Mexico Canada Agreement (USMCA) are positives. All of this coupled with sanguine American consumers and a continued low interest rate environment should result in on-going moderate U.S. economic growth during 2020.