It’s no secret that in the age of social distancing and travel bans, the hospitality industry is hurting, but real estate industry professionals are seeing long-term potential, especially in New York City.
After a dour 2020, the pace of deals in the U.S. hotel industry is expected to pick up this year, even if it doesn’t quite reach the record levels set in 2019.
The U.S. hotel sector continues to add jobs since its worst-performing month of April, but there are likely a rough few months ahead for unemployment until a vaccine is in widespread distribution.
Immediate shocks to New York City's hotel industry are morphing into long-term pain as hotel operators confront the reality that a real recovery isn't coming this year.
Short-term rentals may be outperforming the hotel industry through the peak summer leisure season, but a fall downturn in family vacations could extend the drag on performance to platforms like Airbnb and Vrbo.
An IHG default on hotel payments in July could lead to the first large opportunity in North America for another brand to take over those properties, all directly a result from the coronavirus pandemic.
Vegas casino operators may care more about occupancy over daily rates in the initial recovery, but prolonged room discounts can alter guest rate expectations — and sink hotel revenue streams for the long-term.
Analysts are beginning to predict the hotel industry’s recovery from the coronavirus downturn in travel, but some caution there are still too many unknown variables awaiting properties when they reopen.
Smaller hotel chains likely face two choices coming out of the coronavirus crisis: shutter completely or consolidate into a bigger brand.
Our alumni share how they have come to terms with the pandemic and share recommendations on how to keep busy while at home, along with their hope for the future of the hospitality industry.