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Hotels in Fort Lauderdale and the greater market recorded a banner year in 2019. The new decade kicked off a strong start with expectations that the momentum would continue, led by the demand from Super Bowl LIV held in nearby Miami Gardens. However, the onset of COVID-19 in March 2020 brought travel to a sudden standstill across the nation, immediately impacting hotels in the local market.
Unemployment rates are surging, global stock markets are crashing, commodities are collapsing, and the real estate bubble has finally burst. What moves can hotel developers make during the downturn?