As U.S. hotels close or dramatically scale back business during the COVID-19 pandemic, it’s difficult to assess the value of a lodging asset that may or may not be able to recover from steep losses in revenue. And some hotel segments, such as economy extended stay, are doing well when compared to their higher priced competitors. Suzanne Mellen and her cohorts at HVS have attempted to paint a picture of what hotel values may look like in the coming months. Presenters at Long Live Lodging’s LodgingStream digital conference on April 30 said it’s too early to tell if and by how much hotel market values may change, though one speaker said he’s seeing discounts of 25 percent to 30 percent emerging. This article is part of our special report on 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
With more than half of the states in America reopening their economies, owners and operators of lodging accommodations might be tempted to return to business as usual. That includes sales and marketing strategies that management was deploying before the coronavirus pandemic paralyzed the hospitality industry. But hotel marketing experts we interviewed say business will be read more