Lodging Leaders

Private Equity Poised to Take Advantage of Hotel Business Distress

Hospitality in the age of COVID-19
LATEST NEWS
  • Private Equity Poised to Take Advantage of Hotel Business Distress
    FINANCING
    August 12, 2020

    Private Equity Poised to Take Advantage of Hotel Business Distress

    Hotel businesses struggling to stay afloat during the industry’s unprecedented downturn might be able to get a financial boost from private equity lenders awash in capital. But it’s borrower beware as some investors might turn out to be sharks eager to capitalize on an owner’s distress. Long Live Lodging explores how some investment funds are positioning themselves to help hotel owners emerge from the storm with their businesses and investments intact. Meantime, asset managers advise on how to prepare your business to qualify for financial aid that goes beyond conventional lending. This report is part of Long Live Lodging’s special coverage of the coronavirus crisis and its impact on the hotel industry.

  • 281 | Rescue Capital: Hotel financiers seek opportunities to invest in distressed assets
    FINANCING
    August 12, 2020

    281 | Rescue Capital: Hotel financiers seek opportunities to invest in distressed assets

    In June, Watermark Lodging Trust, a Chicago REIT, sold its Hutton Hotel in Nashville for $70 million. The price is $7 million less than what the REIT said it paid to acquire and upgrade the hotel seven years ago. A month later, Watermark said it signed a deal in which it sold shares worth $200 read more

  • Advertisement
    ADVERTISEMENT
    May 13, 2020

    ASSA ABLOY Global Solutions

    ASSA ABLOY Global Solutions Reimagine the World of Hospitality. In episode 269 of Lodging Leaders, ASSA ABLOY Global Solutions President of the Americas Nicolas Aznar shares a message of encouragement, reminding us all we’re not alone in this fight.

  • Business Interruption Lawsuits Spread With Virus
    CORONAVIRUS
    August 5, 2020

    Business Interruption Lawsuits Spread With Virus

    Hundreds of hotel owners have filed or are considering filing lawsuits against their property insurers to recover tens of millions of dollars in lost business revenue during the coronavirus pandemic. Long Live Lodging’s report features a hotel owner, lawyers and a researcher on risk and uncertainty and explores what’s happening with unsatisfied business interruption insurance claims and government legislative proposals seeking to resolve the problem. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hotel industry.

  • 280 | Premium Letdown: Hotels challenge property insurers’ refusal to cover COVID-19 revenue loss
    CORONAVIRUS
    August 5, 2020

    280 | Premium Letdown: Hotels challenge property insurers’ refusal to cover COVID-19 revenue loss

    As the hospitality industry struggles to mitigate the massive loss of revenue caused by the coronavirus pandemic, hundreds of hotel owners are filing lawsuits to force their property insurance providers to cover their financial casualties. Meantime, state and federal lawmakers are considering legislation that would mandate U.S. insurance companies pay for business losses related to read more

  • Inclusion is a Unicorn, Part 2
    DIVERSITY
    July 29, 2020

    Inclusion is a Unicorn, Part 2

    A panel of mid-career hospitality professionals gather for the second part of Next Generation in Lodging’s panel discussion called “Inclusion is a Unicorn.” Long Live Lodging / Lodging Leaders podcast teamed up with the new organization to produce the event after the group’s earlier attempt to hold a live online conversation on Zoom was disrupted by hackers using racial epithets and white supremacist images. Refusing to be silenced, Next Generation in Lodging’s panelists take part in a wide-ranging conversation that challenges the hospitality industry’s status quo.

  • 279 | Inclusion is a Unicorn Part 2: ‘We are actually doing badly’
    DIVERSITY
    July 29, 2020

    279 | Inclusion is a Unicorn Part 2: ‘We are actually doing badly’

    We’re trying something different today. We’ve teamed up with a group called Next Generation in Lodging, a diverse team of mid-career hospitality professionals who want to have significant input into the future of the hospitality industry. We’ve worked with them to produce and provide a platform for a panel discussion about diversity and inclusion in read more

  • ‘Phenomenal’ number of hotels behind on CMBS loan payments
    CORONAVIRUS
    July 22, 2020

    ‘Phenomenal’ number of hotels behind on CMBS loan payments

    Thousands of hotels in the U.S. are financed through commercial mortgage backed securities or CMBS, a unique and complex loan structure that works well when the economy is healthy but has created a quagmire of challenges and uncertainty for hotel businesses fighting for their lives amid the economic downturn caused by the coronavirus pandemic. This multimedia report explores the current state of the CMBS loan market and recommendations on how the federal government can help rescue thousands of hotels in CMBS distress. It is the latest installment of Long Live Lodging’s special report on the coronavirus crisis and its impact on the hotel industry.

  • 278 | CMBS Distress: Thousands of hotel owners seek relief from billions of dollars in debt
    CORONAVIRUS
    July 22, 2020

    278 | CMBS Distress: Thousands of hotel owners seek relief from billions of dollars in debt

    Since the beginning of March, the hotel industry has lost more than $40 billion in room revenue. Hotels continue to lose $400 million every day, according to STR and Tourism Economics. The historic loss of income caused by the coronavirus pandemic is rendering hotel owners unable to pay their property mortgages. While many have worked read more

  • Designing Hotels For Life
    CORONAVIRUS
    July 8, 2020

    Designing Hotels For Life

    Hotel developers and designers are faced with unique challenges in the age of COVID-19. Ron Swidler, chief innovation officer at The Gettys Group in Chicago, said the company relaunched its Hotel of Tomorrow initiative to collaborate with experts worldwide to come up with short-term and long-term solutions in hotel design and technology to keep hospitality teams and guests safe and healthy in an environment that is literally life or death to many. The Gettys Group is among hospitality design firms addressing evolving demands by guests who want to feel comfortable and assured in an uncertain time. This report is part of Long Live Lodging’s special report on the coronavirus crisis and its impact on the hotel industry.

  • 277 | Contagious Ideas: Hospitality brand and design experts search for creative solutions in the age of COVID-19
    CORONAVIRUS
    July 8, 2020

    277 | Contagious Ideas: Hospitality brand and design experts search for creative solutions in the age of COVID-19

    In the introduction of his book, “Hotel, an American History,” A.K. Sandoval-Strausz writes: “The hotel as we know it today did not evolve randomly or naturally, nor did it develop as some sort of automatic response to structural needs. Rather, it was the deliberate creation of an identifiable group of people who lived in a read more

  • ‘It Has To Be Us, Too’
    DIVERSITY
    July 1, 2020

    ‘It Has To Be Us, Too’

    In recent civic uprisings over racism in America, leaders of hospitality organizations are examining how the hotel industry recruits and promotes Blacks through the ranks. While Black workers overwhelmingly account for the number of front-line workers, there is a dearth of representation in the upper echelons of the industry. Peggy Berg, founder and president of Castell Project, a non-profit dedicated to the advancement of women in leadership in the hospitality industry, decided to collect data on the number of Black men and women directors and senior executives in the hotel industry. What she found – or did not find – shocked her. “It’s one of these things that you know in the back of your mind, but when you actually see the numbers, it’s suddenly real.” This report is part of Long Live Lodging’s ongoing coverage of minority representation in hospitality leadership.

  • 276 | A Measured Response: Hotel industry hires for diversity but fails with inclusion
    DIVERSITY
    July 1, 2020

    276 | A Measured Response: Hotel industry hires for diversity but fails with inclusion

    Many companies in the hotel industry claim they practice diversity in their hiring practices. When questioned about how many Black people they employ, most companies can back up their hiring outcomes with data. That’s all well and good, but what’s missing in most employment demographics is a measurement of how inclusive the company is not read more

  • No More Fear, Says Group Tackling Racism in Hospitality
    DIVERSITY
    June 24, 2020

    No More Fear, Says Group Tackling Racism in Hospitality

    Hospitality professionals of color say the industry is mired in old ways of addressing the issues racism, diversity and inclusion. In the new social awakening, executive leaders, boards of directors and owners of hotels need to dissolve their affirmative-action mindsets and give minorities seats at the tables in the upper echelons of the industry, says co-founders of Next Generation in Lodging, a new organization for mid-career hospitality professionals. For this report, Long Live Lodging interviewed the co-founders: Davonne Reaves of The Vonne Group, Omari Head of Paramount Lodging Advisors and Christopher Henry of Majestic Hospitality Group. Through their online social networks the three have stepped up to highlight how the hotel industry is failing to effectively solve the problems of racism, diversity and inclusion and how they plan to help change that.

  • 275 | ‘Inclusion is a Myth’: Next Generation in Lodging challenges industry’s status quo on race and diversity
    DIVERSITY
    June 24, 2020

    275 | ‘Inclusion is a Myth’: Next Generation in Lodging challenges industry’s status quo on race and diversity

    Imagine holding a conference on racism, diversity and inclusion in Corporate America and seeing your event invaded by outsiders shouting racial epithets and vulgarities while flying both the Nazi and American flags. Actually, there is no need to imagine it because it happened earlier this month during a digital event organized by the founders of read more

  • Hotel construction eases up on completion timelines
    CONSTRUCTION
    June 17, 2020

    Hotel construction eases up on completion timelines

    Commercial construction starts dramatically plummeted in April because of the coronavirus crisis, reports Dodge Data & Analytics. In May, commercial starts saw a slight uptick. Hotels under construction when the pandemic hit continue to move forward but contractors are challenged with the unexpected costs of providing workers with personal protection equipment and complying with OSHA’s newly minted health and safety standards. Hotel developers, meantime, are not in a hurry to see projects across the finish line as demand in travel remains low. Long Live Lodging reports about the state of hotel construction as part of our ongoing special report on the coronavirus crisis and its impact on the hotel industry.

Lodging Leaders

Private Equity Poised to Take Advantage of Hotel Business Distress

Hospitality in the age of COVID-19
LATEST NEWS
  • Private Equity Poised to Take Advantage of Hotel Business Distress
    FINANCING
    August 12, 2020

    Private Equity Poised to Take Advantage of Hotel Business Distress

    Hotel businesses struggling to stay afloat during the industry’s unprecedented downturn might be able to get a financial boost from private equity lenders awash in capital. But it’s borrower beware as some investors might turn out to be sharks eager to capitalize on an owner’s distress. Long Live Lodging explores how some investment funds are positioning themselves to help hotel owners emerge from the storm with their businesses and investments intact. Meantime, asset managers advise on how to prepare your business to qualify for financial aid that goes beyond conventional lending. This report is part of Long Live Lodging’s special coverage of the coronavirus crisis and its impact on the hotel industry.

  • 281 | Rescue Capital: Hotel financiers seek opportunities to invest in distressed assets
    FINANCING
    August 12, 2020

    281 | Rescue Capital: Hotel financiers seek opportunities to invest in distressed assets

    In June, Watermark Lodging Trust, a Chicago REIT, sold its Hutton Hotel in Nashville for $70 million. The price is $7 million less than what the REIT said it paid to acquire and upgrade the hotel seven years ago. A month later, Watermark said it signed a deal in which it sold shares worth $200 read more

  • Advertisement
    ADVERTISEMENT
    May 13, 2020

    ASSA ABLOY Global Solutions

    ASSA ABLOY Global Solutions Reimagine the World of Hospitality. In episode 269 of Lodging Leaders, ASSA ABLOY Global Solutions President of the Americas Nicolas Aznar shares a message of encouragement, reminding us all we’re not alone in this fight.

  • Business Interruption Lawsuits Spread With Virus
    CORONAVIRUS
    August 5, 2020

    Business Interruption Lawsuits Spread With Virus

    Hundreds of hotel owners have filed or are considering filing lawsuits against their property insurers to recover tens of millions of dollars in lost business revenue during the coronavirus pandemic. Long Live Lodging’s report features a hotel owner, lawyers and a researcher on risk and uncertainty and explores what’s happening with unsatisfied business interruption insurance claims and government legislative proposals seeking to resolve the problem. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hotel industry.

  • 280 | Premium Letdown: Hotels challenge property insurers’ refusal to cover COVID-19 revenue loss
    CORONAVIRUS
    August 5, 2020

    280 | Premium Letdown: Hotels challenge property insurers’ refusal to cover COVID-19 revenue loss

    As the hospitality industry struggles to mitigate the massive loss of revenue caused by the coronavirus pandemic, hundreds of hotel owners are filing lawsuits to force their property insurance providers to cover their financial casualties. Meantime, state and federal lawmakers are considering legislation that would mandate U.S. insurance companies pay for business losses related to read more

  • Inclusion is a Unicorn, Part 2
    DIVERSITY
    July 29, 2020

    Inclusion is a Unicorn, Part 2

    A panel of mid-career hospitality professionals gather for the second part of Next Generation in Lodging’s panel discussion called “Inclusion is a Unicorn.” Long Live Lodging / Lodging Leaders podcast teamed up with the new organization to produce the event after the group’s earlier attempt to hold a live online conversation on Zoom was disrupted by hackers using racial epithets and white supremacist images. Refusing to be silenced, Next Generation in Lodging’s panelists take part in a wide-ranging conversation that challenges the hospitality industry’s status quo.

  • 279 | Inclusion is a Unicorn Part 2: ‘We are actually doing badly’
    DIVERSITY
    July 29, 2020

    279 | Inclusion is a Unicorn Part 2: ‘We are actually doing badly’

    We’re trying something different today. We’ve teamed up with a group called Next Generation in Lodging, a diverse team of mid-career hospitality professionals who want to have significant input into the future of the hospitality industry. We’ve worked with them to produce and provide a platform for a panel discussion about diversity and inclusion in read more

  • ‘Phenomenal’ number of hotels behind on CMBS loan payments
    CORONAVIRUS
    July 22, 2020

    ‘Phenomenal’ number of hotels behind on CMBS loan payments

    Thousands of hotels in the U.S. are financed through commercial mortgage backed securities or CMBS, a unique and complex loan structure that works well when the economy is healthy but has created a quagmire of challenges and uncertainty for hotel businesses fighting for their lives amid the economic downturn caused by the coronavirus pandemic. This multimedia report explores the current state of the CMBS loan market and recommendations on how the federal government can help rescue thousands of hotels in CMBS distress. It is the latest installment of Long Live Lodging’s special report on the coronavirus crisis and its impact on the hotel industry.

  • 278 | CMBS Distress: Thousands of hotel owners seek relief from billions of dollars in debt
    CORONAVIRUS
    July 22, 2020

    278 | CMBS Distress: Thousands of hotel owners seek relief from billions of dollars in debt

    Since the beginning of March, the hotel industry has lost more than $40 billion in room revenue. Hotels continue to lose $400 million every day, according to STR and Tourism Economics. The historic loss of income caused by the coronavirus pandemic is rendering hotel owners unable to pay their property mortgages. While many have worked read more

  • Designing Hotels For Life
    CORONAVIRUS
    July 8, 2020

    Designing Hotels For Life

    Hotel developers and designers are faced with unique challenges in the age of COVID-19. Ron Swidler, chief innovation officer at The Gettys Group in Chicago, said the company relaunched its Hotel of Tomorrow initiative to collaborate with experts worldwide to come up with short-term and long-term solutions in hotel design and technology to keep hospitality teams and guests safe and healthy in an environment that is literally life or death to many. The Gettys Group is among hospitality design firms addressing evolving demands by guests who want to feel comfortable and assured in an uncertain time. This report is part of Long Live Lodging’s special report on the coronavirus crisis and its impact on the hotel industry.

  • 277 | Contagious Ideas: Hospitality brand and design experts search for creative solutions in the age of COVID-19
    CORONAVIRUS
    July 8, 2020

    277 | Contagious Ideas: Hospitality brand and design experts search for creative solutions in the age of COVID-19

    In the introduction of his book, “Hotel, an American History,” A.K. Sandoval-Strausz writes: “The hotel as we know it today did not evolve randomly or naturally, nor did it develop as some sort of automatic response to structural needs. Rather, it was the deliberate creation of an identifiable group of people who lived in a read more

  • ‘It Has To Be Us, Too’
    DIVERSITY
    July 1, 2020

    ‘It Has To Be Us, Too’

    In recent civic uprisings over racism in America, leaders of hospitality organizations are examining how the hotel industry recruits and promotes Blacks through the ranks. While Black workers overwhelmingly account for the number of front-line workers, there is a dearth of representation in the upper echelons of the industry. Peggy Berg, founder and president of Castell Project, a non-profit dedicated to the advancement of women in leadership in the hospitality industry, decided to collect data on the number of Black men and women directors and senior executives in the hotel industry. What she found – or did not find – shocked her. “It’s one of these things that you know in the back of your mind, but when you actually see the numbers, it’s suddenly real.” This report is part of Long Live Lodging’s ongoing coverage of minority representation in hospitality leadership.

  • 276 | A Measured Response: Hotel industry hires for diversity but fails with inclusion
    DIVERSITY
    July 1, 2020

    276 | A Measured Response: Hotel industry hires for diversity but fails with inclusion

    Many companies in the hotel industry claim they practice diversity in their hiring practices. When questioned about how many Black people they employ, most companies can back up their hiring outcomes with data. That’s all well and good, but what’s missing in most employment demographics is a measurement of how inclusive the company is not read more

  • No More Fear, Says Group Tackling Racism in Hospitality
    DIVERSITY
    June 24, 2020

    No More Fear, Says Group Tackling Racism in Hospitality

    Hospitality professionals of color say the industry is mired in old ways of addressing the issues racism, diversity and inclusion. In the new social awakening, executive leaders, boards of directors and owners of hotels need to dissolve their affirmative-action mindsets and give minorities seats at the tables in the upper echelons of the industry, says co-founders of Next Generation in Lodging, a new organization for mid-career hospitality professionals. For this report, Long Live Lodging interviewed the co-founders: Davonne Reaves of The Vonne Group, Omari Head of Paramount Lodging Advisors and Christopher Henry of Majestic Hospitality Group. Through their online social networks the three have stepped up to highlight how the hotel industry is failing to effectively solve the problems of racism, diversity and inclusion and how they plan to help change that.

  • 275 | ‘Inclusion is a Myth’: Next Generation in Lodging challenges industry’s status quo on race and diversity
    DIVERSITY
    June 24, 2020

    275 | ‘Inclusion is a Myth’: Next Generation in Lodging challenges industry’s status quo on race and diversity

    Imagine holding a conference on racism, diversity and inclusion in Corporate America and seeing your event invaded by outsiders shouting racial epithets and vulgarities while flying both the Nazi and American flags. Actually, there is no need to imagine it because it happened earlier this month during a digital event organized by the founders of read more

  • Hotel construction eases up on completion timelines
    CONSTRUCTION
    June 17, 2020

    Hotel construction eases up on completion timelines

    Commercial construction starts dramatically plummeted in April because of the coronavirus crisis, reports Dodge Data & Analytics. In May, commercial starts saw a slight uptick. Hotels under construction when the pandemic hit continue to move forward but contractors are challenged with the unexpected costs of providing workers with personal protection equipment and complying with OSHA’s newly minted health and safety standards. Hotel developers, meantime, are not in a hurry to see projects across the finish line as demand in travel remains low. Long Live Lodging reports about the state of hotel construction as part of our ongoing special report on the coronavirus crisis and its impact on the hotel industry.

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