The coronavirus crisis has paralyzed much of the U.S. hospitality industry. One area that also is reflecting the shock is the hotel transaction market. While deals that were financed will probably close as planned, other agreements are put on hold as lenders stop underwriting and both buyers and sellers have a heightened level of caution in such an uncertain time. This report is part of Long Live Lodging’s ongoing Special Report on the Coronavirus and its impact on the hotel industry.
Memorial Day weekend enticed many Americans to travel to destinations such as beach towns, mountain resorts and amusement parks as states are in the midst of lifting shelter-in-place directives and reopening their economies. Many hotels in these markets reported occupancies similar to pre-COVID-19 days. As the industry gets back to business, it will be anything but normal as owners and operators adapt to new health and safety protocols. In this report, Long Live Lodging looks at what brands, owners and advisors are doing to help the industry adjust to doing business amidst the coronavirus threat. This is part of an ongoing report about the coronavirus and its impact on the hotel industry.
The U.S. hotel industry has begun its comeback as all states are reopening their economies. The numbers show that occupancy is slowly but steadily increasing as hotels get back to business. But, to be sure, it is not business as usual. Relatively few hotels completely closed during the coronavirus pandemic. More than 80 percent remained read more