CORONAVIRUS
Hotel Owners Seek a New Way Forward
CORONAVIRUS
Parts of the U.S. hotel industry are in the very early stages of reopening amidst the COVID-19 pandemic. Twenty-five states are reopening in phases as others remain closed or are partially reopening, reports the U.S. Chamber of Commerce. In this story, Long Live Lodging reports on how owners plan to move forward and get back to business as most people are still not travel-minded despite getting green lights to move about while exercising safety precautions. Mitch Patel, CEO of Vision Hospitality Group, has hotels in Georgia and Tennessee, the first two states to announce reopening plans. He says the industry as a whole needs to come together and figure out how to do business in the COVID-19 reality. This article is part of an ongoing special report on the coronavirus crisis and its impact on the U.S. hotel industry.
CORONAVIRUS
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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.