Good morning, investors. In today’s commercial real estate news, learn how technology is affecting commercial real estate, Marriot bets big on hospitality’s future with a 300,000 room expansion, and SoftBank invests in co-working spaces.
It’s notoriously difficult to tell just how technology will affect any given industry. But software is making its way more aggressively into commercial real estate, and here are just some of the ways investors may feel its impact.
Marriot announced it plans to add 300,000 rooms as part of a three year growth plan. The hotel chain expects to see $675 million added to its coffers as part of the expansion.
SoftBank has invested $300 million in WeWork, a co-working space business out of New York. Co-working is becoming increasingly popular among millennial workers.