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?
As we all try to plan and learn about 2021, Sam-Erik Ruttmann and Abid Butt are delighted to organize a discussion around “Plausible Predictions – 2021” featuring Daniel Lesser – President & CEO, LW Hospitality Advisors.
This episode of the Lodging Leaders podcast explores the state of hotel values and what may lie ahead for sellers and opportunistic investors.
What does COVID relief on CMBS loans look like? Watch as Ann Hambly, Daniel Lesser, and Barney McAuley discuss the impact that COVID-19 has had on commercial real estate and the potential relief on CMBS loans.
Shimon Shkury and Evan Weiss, Chief Operating Officer & Principal of LW Hospitality Advisors, talk about the current state of the market for NYC hotels and how the approach to valuations and consulting has shifted throughout the pandemic. Evan discusses his predictions for the future of NYC hospitality