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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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346 | Repositioning For Recovery: Hotel conversions to outpace new builds
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.
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345 | ‘Rosy View of Future’: Hotel industry sees unleashing of pent-up investor demand
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.
