Americans are gearing up for a record-breaking Memorial Day weekend, with AAA forecasting that 45.1 million people will travel at least 50 miles from home between Thursday, May 22 and Monday, May 26. The figure marks a 1.4 million increase from last year and breaks the previous travel record of 44 million, set in 2005.
According to HVS' annual Hotel Valuation Index (HVI), hotel values in Europe saw a consistent 2.0% increase in 2024, driven by lower interest rates, modest RevPAR growth, and sustained demand for European travel from international visitors.
Based on AAA booking data, Seattle is the top destination for Labor Day weekend, showing an increase of nearly 30% from last year when it also ranked first.
Real estate consulting firm JLL predicts a significant increase in data-dependent technologies like the Internet of Things (IoT) and generative artificial intelligence (AI) will drive the need for robust IT infrastructure, particularly in the form of edge data centers.
Posted on May 01, 2023