Latest news with #CoStar
Business Wire
14 hours ago
- Business
- Business Wire
CoStar Group Names Grant Montgomery as National Director of Multifamily Analytics
ARLINGTON, Va.--(BUSINESS WIRE)--CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, analytics, and 3D digital twin technology in the property markets, announced today the appointment of Grant Montgomery as National Director of Multifamily Analytics. The hire will augment the company's already powerful analytics across the U.S. multifamily sector, adding value for CoStar Group clients and the commercial real estate industry as a whole. In his new role, Montgomery will serve as CoStar Group's industry-facing representative for the multifamily sector, delivering the company's data-driven perspective and outlook on the market. As CoStar Group's subject matter expert on all multifamily themes, trends, and topics, Montgomery will use his extensive knowledge to uphold CoStar Group's commitment to providing quality analytics and insights for clients and the industry. 'We are thrilled to have Grant, a demonstrated, multi-faceted researcher, leader and strategic advisor, join the team,' said Galina Alexeenko, Vice President, CoStar Group Market Analytics. 'Grant's vast experience in real estate research and operations, coupled with CoStar's unparalleled multifamily data and analytics, will provide our clients with insights into the multifamily market's key trends and developments. We welcome this outstanding addition to CoStar Group's analytics team.' Montgomery joins CoStar Group with more than 25 years of real estate research and consulting experience. Previously serving as Vice President of Research for Elme Communities, Montgomery led the development of strategic quantitative market analysis that supported the company's transformation into a multifamily REIT, directly influencing portfolio strategies. Prior to his time at Elme, he served as Senior Vice President and Apartment Practice Director at Delta Associates, delivering critical insights into market conditions to developers, lenders, and public agencies. Montgomery is a frequent speaker at industry events on multifamily market conditions. About CoStar Group CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world's real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives. CoStar Group's major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; the leading platform for apartment rentals; and the fastest-growing residential real estate marketplace. CoStar Group's industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible, STR, a global leader in hospitality data and benchmarking, Ten-X, an online platform for commercial real estate auctions and negotiated bids and OnTheMarket, a leading residential property portal in the United Kingdom. CoStar Group's websites attracted over 141 million average monthly unique visitors in the second quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit
AU Financial Review
a day ago
- Business
- AU Financial Review
ACCC interest in REA an ‘excellent opportunity' for Domain: CoStar
An investigation by Australia's competition watchdog into News Corp-controlled real estate giant REA Group is an 'excellent opportunity' for its rival Domain to claw back market share, the chief executive of its new owner has said. Andy Florance, the chief executive of $US84 billion ($55 billion) real estate giant CoStar, told investors during an earnings call that he expected the company to take ownership of property sales portal Domain before the end of September.
Yahoo
3 days ago
- Business
- Yahoo
US hotel room construction hits 20-quarter low: CoStar
This story was originally published on Hotel Dive. To receive daily news and insights, subscribe to our free daily Hotel Dive newsletter. Dive Brief: The volume of U.S. hotel rooms under construction decreased year over year for a sixth consecutive month in June, according to new CoStar data. As of last month, there were 138,922 U.S. hotel rooms under construction, a 20-quarter low, according to Isaac Collazo, senior director of analytics at CoStar subsidiary STR. The volume of rooms under construction decreased 11.9% year over year in June, per CoStar. The continued decline is not surprising given 'hotel demand trending downward, unrelenting economic uncertainty and rising construction costs,' Collazo said. Most of the rooms under construction are in the upscale and upper upscale segments, which STR previously forecasted would see the highest RevPAR growth this year, driven by changing traveler behavior. Dive Insight: The volume of U.S. hotel rooms under construction has decreased each month since January, coinciding with President Donald Trump's second term. In those months, U.S. government actions have caused economic uncertainty, and tariffs have negatively impacted construction pipelines. The volume of U.S. hotel rooms in final planning (266,276 rooms) also decreased year over year in June, albeit only by 0.1%, according to CoStar. The number of U.S. hotel rooms in the planning stage (349,802 rooms), meanwhile, increased 4.8% year over year in the month. The majority of rooms in the U.S. hotel construction pipeline are in these two planning phases, but 'many will likely not be built in the near future,' Collazo said. Of rooms currently under construction, the majority are in the upscale and upper upscale segments, according to Collazo, who also noted that more than half of all rooms under development are in the South, largely outside of the top 25 markets. Higher-tier hotel segments were a bright spot for the industry last year, driving performance as high-income households prioritized travel. That trend has continued, with high-income households anticipated to make up nearly half of travelers this summer, Deloitte reported in May. Ahead of this year's Memorial Day weekend, travel outlooks appeared mostly stable despite a dip in consumer confidence and dampening international visitation. Last month, however, CoStar and Tourism Economics downgraded their 2025 and 2026 growth projections for U.S. hotel top-line performance metrics, citing elevated macroeconomic concerns. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
3 days ago
- Business
- Bloomberg
London Office Market Recovery Gathers Pace Due to Space Shortage
A year on from its nadir, London's office market recovery is gathering steam as a lack of new development and a rebound in demand for space begins to chip away at a vacancy rate that peaked at its highest this century. Prices were up 6% at the end of June from a year earlier, according to an index of transactions compiled by real estate data provider CoStar Group Inc. The recovery began in the second half of last year as vacancy rates finally topped out at almost 11% after more than four years of virtually uninterrupted increases since the onset of the pandemic, CoStar's data show.
Zawya
3 days ago
- Business
- Zawya
Global hotel pipeline robust in Q2, Mideast and Africa lag behind
The global hotel development activity increased across most regions during the second quarter, with notable gains in Asia Pacific and Europe, according to new data from real estate analytics firm CoStar. However, the Middle East and Africa lagged behind. The MEA was the only region globally that recorded an overall decline in hotel pipeline growth, stated CoStar's in its June pipeline report. The region saw a 2.6% year-on-year decrease in total rooms under contract, totaling 219,237, while rooms in construction fell 5.4%, and final planning plunged 34.2%, though early-stage planning rose 13.7%. In the MEA region, Saudi Arabia led the growth in construction activity with 46,015 rooms followed by UAE (16,271), the report added. The total under-contract room counts rose year-on-year in all major regions except the Middle East and Africa, stated the report, which tracks hotel projects in various stages of development. Europe saw a 2.9% annual increase in total under-contract rooms, reaching 431,736. Growth was driven by a 15.4% surge in rooms in the planning phase, despite a 19.7% drop in final planning figures. The UK led the region with 24,711 rooms under construction, followed closely by Germany with 23,400. The Asia Pacific region recorded the strongest growth, with 957,254 rooms under contract, up 4.2% from a year earlier. Planning activity soared by 21%, offsetting a steep 54.3% drop in final planning. China dominated regional construction with 318,327 rooms, followed by India (40,950) and Vietnam (36,338), it stated. In the Americas, total rooms under contract edged up 1.1% to 902,952. While construction activity declined 9.3%, gains in the planning (+6.4%) and final planning (+1.5%) stages supported overall growth. The US remains the region's dominant market with 138,922 rooms under construction, followed by Mexico (14,562), Canada (9,128), and Brazil (5,334).- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
