Office Leasing and Hotel Occupancy: A Symbiotic Relationship

In recent years, the office leasing landscape has experienced significant transformations due to the increasing prevalence of remote work and the changing nature of traditional office spaces. A comparison of five-year periods, from 2015 to 2019 and 2020 to the second quarter of 2024, revealed that the average quarterly office leasing volume had declined 27% on an aggregated average of all U.S. metropolitan cities.