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205 | Opportunity Zones Create 21st Century Gold Rush
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Today’s report takes a look at a newcomer to hotel fund raising – the Investing in Opportunity Act, and the capital pools and projects the federal law is generating.
While the U.S. Department of the Treasury and the IRS are still working on the act’s punch list, many hotel developers and private equity groups are moving ahead to capitalize early on projects already breaking ground in designated opportunity zones.
In this episode, we hear from leadership at Peachtree Hotel Group of Atlanta, and a real estate attorney specializing in hotel development and opportunity zones. We also feature recorded interviews of the U.S. senators responsible for introducing the act.
You’ll hear from …
- Greg Friedman, co-founder and president, Peachtree Hotel Group
- Mitul Patel, co-founder, managing principal and COO, Peachtree Hotel Group
- Brian Waldman, senior vice of president of investments, Peachtree Hotel Group
- Nicole Ament, real estate lawyer and shareholder in the Brownstein Hyatt Farber Schreck law firm
Resources & Links
VIDEOS
- Scott and Booker at NACo.
- Scott on Bloomberg
- Scott on Senate Finance Committee
- Letter Sen. Tim Scott and others sent to Steve Mnuchin, secretary of the U.S. Treasury listing unanswered questions regarding opportunity zone investment.
- Economic Innovation Group (EIG)’s website FAQs
Opportunity Zone legislation links
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296 | Flexible Business Model: Apartment-hotels are an emerging trend in an industry in crisis
It’s well known extended-stay-hotel and short-term-rental sectors have done better than their transient hotel counterparts during the coronavirus pandemic. Even before the crisis hit, residential-type accommodations were seeing a growth in interest from travelers as well as investors. The COVID-19 outbreak is proving mixed developments of hotel rooms, leased apartments and owned condominiums offer a unique value proposition during and after the pandemic. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hotel industry.
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295 | Doing Well: Coronavirus pandemic advances wellness design and programs in hotels
The coronavirus pandemic is forcing the lodging industry to rethink health and wellness. Designers such as Blanche Garcia of B. Garcia Designs see this as an opportunity for hotels to revise their messaging beyond clean and safe by introducing wellness products and programs they can market and attract guests who want to feel good during their stay and return home feeling better than when they left. Those who promote healthy buildings as well as safe travel are exploring how implementing elements of wellness can be a cure for hotel businesses struggling to survive the COVID-19 pandemic and the subsequent economic downturn. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hotel industry.
