🌍 Market

Chicago Hotel Market

3 stories · First covered Apr 2, 2026 · Latest May 5
Related: Houston hotel market 2 Washington D.C. hotel market 2 San Francisco hotel market 2 Revenue Management 1 Hotel Conversion Costs 1 Comp Set Analysis 1 Los Angeles Hotel Market 1 Miami hotel market 1 New York hotel market 1 Hotel development financing 1 OTA Dependency 1 Select-service hotel development 1
Pebblebrook Hotel Trust
Chicago Hotel Market Coverage
Office Defaults Hit a 10-Year High. Hotel Developers Should Be on the Phone With Receivers Right Now.
Development
May 5

Office Defaults Hit a 10-Year High. Hotel Developers Should Be on the Phone With Receivers Right Now.

CMBS office delinquency hit 12.34% in January 2026 and distressed sales surged to $4.3 billion last year. The conversion math at 40-60% below replacement cost looks compelling on paper, but the gap between "viable candidate" and "operating hotel" is where the real risk lives.

JC
Jordan Chen 3 min read · May 5
Pebblebrook's Q1 Call Is the Real Test. The 2026 Guidance Math Doesn't Add Up.
REITs
Apr 12

Pebblebrook's Q1 Call Is the Real Test. The 2026 Guidance Math Doesn't Add Up.

Pebblebrook just scheduled its Q1 2026 earnings call for April 29. The interesting number isn't on the calendar... it's the gap between their 2026 guidance and what the portfolio actually delivered last year.

JC
Jordan Chen 2 min read · Apr 12
Airlines Are Crushing It on International Routes. Your Revenue Manager Is Still Pricing for Domestic Comp Sets.
Operations
Apr 2

Airlines Are Crushing It on International Routes. Your Revenue Manager Is Still Pricing for Domestic Comp Sets.

Strong Q1 airline earnings on international routes are a 30-60 day leading indicator for gateway hotel demand, and most properties gutted their international sales infrastructure during COVID and never rebuilt it.

MS
Mike Storm 3 min read · Apr 2