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.
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Extended-stay hotels are weathering the coronavirus crisis better than their transient cousins, according to reports. The Highland Group’s half-year report shows economy and mid-priced extended-stay hotels are faring better than upscale extended-stay accommodations. Second-quarter earnings reports from companies such as Extended Stay America prove the resiliency of the sector, especially when sales teams shift their focus to new prospects such as college students, leisure travelers who value the kitchen and essential workers in it for the long haul. Long Live Lodging examines what gives extended-stay its muscle in a weak economy. This report is part of our ongoing coverage of the coronavirus crisis and its impact on the hotel industry.
Almost overnight, the roadside motel is a hot commodity. Travelers are going by car and when they stop they want the safest stay possible. The coronavirus pandemic has pushed health and safety to the top of hotel guests’ most-favored-amenity list and exterior-corridor properties appear to provide more of a risk-free stay than their interior-corridor cousins. Long Live Lodging examines the new shine travelers have put on exterior-corridor motels during the COVID-19 crisis and how brands heavy with motel-style properties are responding to the trend. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hotel industry.