Amid the ongoing pandemic, the real estate industry has shown significant opportunity and resilience. Hospitality has been sustained by the revival of leisure travel, as customers once again embark on vacations. While corporations still exercise caution over business travel, signs of the sector’s ... READ MORE >
hospitality
Reeling from the pandemic, hospitality industry struggles to adapt
(This is the first of three articles examining how the pandemic is affecting the hospitality industry.) If there was any sign of the hospitality industry’s rapid change amid the continuing fallout from the coronavirus pandemic, look no further than the recent debut of home rental portal Airbnb in the ... READ MORE >
Hotel occupancy data: It’s only half the story
Hotel occupancy is typically measured by the consistent supply of rooms, and on the surface recent numbers have been looking favorable. Occupancy was up to 49.9% in the week ended Aug. 8, up from 48.9% a week earlier, and 45.9% a month earlier. But given that the pandemic has forced closures of ... READ MORE >
Rethinking the staycation: Driving boosts hotel occupancy in regional hotspots
As cities slowly awaken from coronavirus-related lockdowns and reopen their economies, regions that rely on auto travel are leading the nascent recovery in the hospitality sector. A combination of low gas prices, concern over air travel and convenience for drivers in many markets is prompting hotel ... READ MORE >
With lifeline from Paycheck Protection Program cut short, real estate turns to bankers for liquidity
The Paycheck Protection Program, a $350 billion government effort to help small and medium-size businesses weather the coronavirus pandemic, is hitting its funding limit less than two weeks after it was launched on April 3. "At the present run-rate, we're going to be out of money," Lawrence Kudlow, ... READ MORE >
How the real estate sector can weather an economy that has all but ground to a halt
In the real estate industry, the first of the month holds a certain significance – after all, it’s when rent payments are due. But this April 1 is quite different, coming amid the steep economic downturn caused by the coronavirus pandemic. Landlords are girding for the very real prospect that the ... READ MORE >
Can hotels become hospitals? Thinking creatively about how to put empty space to work
Hotel companies in the United States are imploring Washington for relief amid the escalating cancellations because of the coronavirus pandemic. Industry leaders face seemingly impossible decisions as revenues have all but disappeared while significant fixed expenses remain. Chief executives from the ... READ MORE >
As coronavirus spreads, pain goes beyond the hospitality and travel industries
As the human and economic toll of the coronavirus mounts, the real estate industry in North America is wondering where it can safely place its bets. The hospitality industry has taken the brunt of the hit so far, but other sectors of the economy have been nervously watching as the events ... READ MORE >
Hospitality industry braces for the worst as coronavirus spreads
As the human and economic toll of the coronavirus continues to mount, the hospitality industry is bracing for the worst. On Jan. 30, the World Health Organization cautioned against non-essential travel to China after declaring the outbreak a public health emergency. Major airlines quickly responded, as ... READ MORE >