What was supposed to be the summer of “revenge” travel may end up disappointing expectations. … READ MORE >
From distress to recovery, hospitality avoids worst-case scenarios: Spring 2022 outlook
As the pandemic appears to be moving into the endemic phase, corporate leaders are asking tough questions about business travel: When is it safe to get teams back on the road? Which planned in-person events can become virtual going forward? Does the growing focus on environmental, social and governance issues mean responsible corporations should reduce their travel footprints? Meanwhile, leisure customers weary of intermittent lockdowns and other pandemic restrictions have resumed vacation travel, helping to keep hotel occupancy at healthy levels. … READ MORE >
Pandemic pressures leave women struggling to regain lost ground on jobs
During the pandemic, women have taken the brunt of the damage to the labor force, whether in the form of losing their jobs or working triple-duty at home with child care and education on top of their work obligations. … READ MORE >
C-PACE: Government push toward greener buildings may fuel financing demand
Real estate businesses looking to move forward with their strategic plans during the downturn while preserving equity may just have another tool in their tool belt: Commercial Property Assessed Clean Energy programs, or C-PACE. C-PACE, a public-private financing option, allows commercial property owners to obtain low-cost, long-term financing for capital expenditures that impact energy and water performance of commercial and multi-family real estate. … READ MORE >
Hanging on: Five ways that hotels can survive the pandemic economy
Stung by the pandemic, hotel owners and operators have focused on finding savings in reducing staff and providing alternative services. While that has been a prudent first step, they need to go beyond those measures. RSM has identified five ways hotels can survive the pandemic. … READ MORE >
Hotels face a long road to recovery emerging from the pandemic
Even as the American economy continues to emerge from the shock of the coronavirus pandemic and economists predict strong growth this year, the forecast for the hospitality industry remains bleak. … READ MORE >
Reeling from the pandemic, hospitality industry struggles to adapt
COVID-19 has displaced hotel owners and stripped properties of guests and reliable revenue streams. In addition, travelers are not yet returning to normal patterns. … READ MORE >
Death and taxes are the only certainties in a volatile Chicago office market
The Chicago real estate investment community is bracing for a rough winter as both commercial and residential owners prepare for property tax hikes as Covid-19 continues to present a significant threat in Illinois. … READ MORE >
FHA mortgage delinquencies show some homeowners in trouble
Federal Housing Administration mortgage delinquencies hit an all-time, four-decade high, according to data released on Monday, a sign that disadvantaged homebuyers are clearly struggling in the pandemic-impacted economy.
The share of FHA mortgage delinquencies rose to almost 16%, in the second quarter, the highest level since 1979, as reported by the Mortgage Bankers Association. The delinquency rate for conventional loans, by comparison, sits at 6.7%. … READ MORE >
Hotel occupancy data: It’s only half the story
At first glance, hotel occupancy rates have been looking favorable recently. But with many hotels closing as the coronavirus spreads, occupancy rates are not providing the full picture. That’s where a new measurement called total-room-inventory occupancy, or TRIO, comes in, and the picture isn’t so promising. … READ MORE >