This article presents market perspectives from HVS regional leaders across major global markets. Drawing on on&the&ground experience, the analysis examines the economic conditions, operating trends, and regional dynamics shaping hotel performance, profitability, and asset values as 2025 concludes.
The U.S. economy expanded at a strong 4.3% annual rate in the third quarter of 2025, according to an estimate delayed by the government shutdown. This marks the fastest pace of growth since Q3 2023 and builds on the solid 3.8% gain in the second quarter, following a 0.5% contraction earlier in the year.