Daniel Lesser presents on the state of the hospitality market.
2021 Boutique Hotel Investment Conference by BLLA
The Counselors of Real Estate (CRE) held a panel called The Road Ahead for U.S. Lodging.
Hunter Hotel Investment Conference 2021 - Breakout Session on CMBS
Panelists discuss government assistance and the repositioning of assets.
Panelists discuss potential property tax issues following the COVID-19 pandemic.
In the wake of the collapse in travel because of COVID-19, many hard-hit hotel properties have been pushed to the point of bankruptcy. Instead of losing properties to foreclosure, we have seen an increase in receiverships, a financial tool that can help businesses avoid bankruptcy and perhaps recover.
New York City has been especially impacted by the COVID-19 crisis, with distress already appearing across several asset types, including hospitality and retail. While some deals have been made in the last couple of months, there is still a significant amount of dry powder waiting in the wings, ready to be invested when the right opportunities arrive.
The transaction market is expected to be brisk in the first half of the year. Where are the opportunities, what types of hotels are going to be changing hands, what will the bid/ask price look like and is now the time to hold or sell?