Uber Riders Returning: Good News for CRE Investors

The first is that Uber Technologies (NYSE: UBER) said its rideshare services just posted their best month since March 2020, and average daily bookings were actually up 9% year over year. The second is that, according to the U.S. Census Bureau, March sales at "food services and drinking places" -- their words, not ours -- were up a resounding 36% from the same dismal month last year, when the pandemic had just begun shutting down eateries and drinkeries by the thousands. It's all good news for those businesses and the real estate investors -- including real estate investment trusts (REITs) -- that depend on their revenue to generate their own.