The U.S. hotel industry has practically grinded to a halt in the wake of the coronavirus crisis. As Lodging Leaders shared in our previous report, Episode 260, hotel business performance has declined to unprecedented levels.
Another area of the industry that the COVID-19 pandemic is impacting is hotel transactions. Properties remain on the market, but lenders have stopped underwriting new deals for the time being. So, if you’re eager to buy a hotel, bring your cash.
In this episode of Lodging Leaders we examine the current state of the hotel sales market. We feature Carter Willcox, sales associate with Mumford Company, and Daniel Lesser, president and CEO of LW Hospitality Advisors.
Resources and Links
Since she was a teenager volunteering at senior-living facilities in Boston, Serena Lipton knew she wanted a career in senior housing. But she had a difficult time finding the college program she believed would educate and prepare her to serve in the senior-living industry. After graduating from Boston University School of Hospitality Administration and working as an analyst for JLL’s Senior Housing Valuation Advisory, Lipton finally found what she was looking for. This fall she enrolled in BU’s Master of Management in Hospitality with a new concentration in senior living. She and other students are on the cusp of what BUSHA believes is a massive shift in how Americans view aging and where opportunities lie for the hospitality industry.
Rainer Jenss of Nyack, New York, founded the Family Travel Association seven years ago to help parents and caregivers introduce children to the world through travel, whether that’s a yearlong trip around the world that Jenss and his family took or a weekend getaway to a nearby destination. To help the travel industry gauge what parents want when they take their kids on vacation, FTA conducts an annual study. The U.S. Family Travel Survey 2021 reveals the shift in mindset the COVID-19 pandemic has created in families planning a trip over the next 12 months. Hoteliers use can use the information to generate business and boost their strategies to recover and sustain business now and other the coming months.