Lera Covington is captain of Datcher, a three-member team named for Jane Eleanor Datcher, who in 1890 was the first African American woman to earn an advanced degree from Cornell University.
Lera is 34 and will graduate in December with dual master degrees in real estate and in regional planning. Her teammates are 27-year-old Joanne Angbazo and Kristen Collins, who’s 25. They’re graduates of Cornell and, along with Lera, are members of Cornell Real Estate Women.
Lera describes the project they plan to pitch.
Lodging Econometrics has tracked the hotel industry since 1998. Its global database includes new-hotel pipelines as well as renovations and brand conversions. Hotel franchisers once eager to launch new brands are focused on converting existing hotels because it’s a faster way to recover revenue lost to the COVID-19 pandemic than through new construction. In Episode 346, Lodging Leaders explores the increasing number of conversions in the U.S. hotel industry and what owners and operators need to consider before repositioning an asset.
In the first few months of the COVID-19 pandemic in the U.S., financiers anticipated a swell of distressed hotel businesses. Some raised rescue funds to respond to what they thought was a pending crisis. Though there are financial rescues taking place, the level of such activity is far below what industry advisers and fund managers expected. Commercial real estate investors positioned to act in the early days of the pandemic held off and are now just beginning to unleash their cash hoards totaling billions of dollars. Episode 345 of Lodging Leaders podcast explores the state of capital investment in the hotel industry.