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.
Hotel groups continue to have a receptive audience in Washington regarding relief funds, but they will need to be careful not to overstep in asking for stimulus further down the recovery path.
The LWHA Q1 2020 Major U.S. Hotel Sales Survey includes 30 single asset sale transactions over $10 million, none of which are part of a portfolio. The survey data reflects hotel sale price data prior to any impact of the COVID-19 spread across the U.S.
Although the world is currently in unchartered territory, having recovered from prior economic and demand shocks, America’s hotel industry has a proven track record of resiliency.
The coronavirus pandemic has left no part of the travel industry unscathed, and that includes the unicorn of the short-term rental world.
Until lenders can wade through the $2 trillion U.S. stimulus package and determine valuations, hotel deals will remain on ice. Expect smaller banks to issue the first round of hotel loans on the upswing.
Buyer beware: When analyzing sale transactions of hotels and other forms of commercial real estate, it is crucial to first consider what rights have been conveyed and their impact on an agreed-upon price.
Caveat emptor: Engagement of professional services is no different than most purchases of goods and other services. In life one gets what one pays for, and high quality clearly costs more than mediocrity.
Glamping is a relatively new trend in the hospitality industry, blending a camping experience with more traditional lodging services and amenities. Most easily defined as camping involving luxury style amenities and facilities, the term is a portmanteau of “glamorous” and “camping.” Despite the rise of glamping throughout the United States in recent years, many countries around the world have offered this product type for decades.
The developing trend of “hotelization” of real estate is an opening for lodging companies to further leverage their brand(s) and property management expertise toward all types of commercial and residential assets.