January 2021 Industry Update

Real Estate and Infrastructure -

Moynihan Train Hall: It’s Stunning. And, a First Step - In the midst of everything else, we needed this. New York needs this. - New York Times

After historic lows, mortgage rates are starting to rise. How far will they go? - If you were hoping to take advantage of historic low mortgage rates to buy in New York City, you need to get it in gear. While mortgage rates are currently near record lows, they are not expected to stay near bargain-basement levels for more than a few months. - Brick Underground

Biden toughens Buy American rules - President Joe Biden signed an executive order yesterday aimed at increasing government purchases of American-made products, a move that could affect construction firms that do business with the federal government. Most notably for contractors, Biden indicated the Buy American policies will apply to his massive plans for infrastructure and new energy projects. - Construction Dive

 

Interior Design and Architecture -

5 Creative Ways to Expand Your Design Business in 2021 - In response to the economic downturn, some interior designers have reevaluated their design services and considered alternate revenue streams. AD PRO consulted with several who have expanded their offerings beyond traditional interior design services; some made these professional pivots even before the pandemic struck, and others as a result of it. Here, they share their experiences and provide insights for others who might be contemplating secondary money-making means. - Architectural Digest  

3 Winter Design Shows That Are Sparking Wonder Right Now - The social-distancing axiom that “we come together by staying apart” is a cue that the world’s leading art and design dealers have clearly taken to heart. This month, a trio of compelling exhibitions are the product of collaborations between gallerists and curators, who are also making the fruits of their labor available for both online and IRL consumption. - Architectural Digest

 

Hospitality -

NYU Hospitality Investment Conference Postponed to November 2021- Due to continued concerns regarding COVID-19, the 43rd annual NYU International Hospitality Industry Investment Conference—originally slated to take place onsite at the New York Marriott Marquis in New York City from June 6-8, 2021—will now be held in-person at the same location on November 7-9, 2021. - Lodging Magazine

Ongoing pandemic drives STR, TE to downgrade U.S. hotel forecast - Worsened pandemic metrics and assumptions of limited early-year travel have led STR and Tourism Economics to slightly downgrade their latest U.S. hotel forecast. Full recovery of demand remains on track for 2023, while close-to-complete RevPAR recovery is still projected for 2024. - Hotel Management


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