Good morning, investors. In today’s commercial real estate news—restaurants and dollar stores thrive in the face of e-commerce, and Trump’s travel ban hurts luxury hotels.
The tables have turned since the recession. Restaurants are on the rise after years of decline. Millennials are eating out more than ever before, and a well place restaurant can draw them to struggling shopping centers.
Dollar stores are another surprising victor in the current retail wars. Unphased by Amazon’s creep, the purveyors of cheap goods are expanding to new locations and trying new models. Some experts see them as providing a vital prop to a struggling middle class.
Since Trump’s attempted travel ban, 20% less visitors from North Africa and the Middle East have visited the US. While they only make up a small share of luxury hotel guests, they often spend lavishly compared to others. Hotel CEOs are struggling to make up the deficit left by their absence.