Following waves of asset of appreciation, the pendulum has swung, and many hotels will be facing significant value declines in the current economic climate. As owners look for every way to reduce operating expenses, they should remain vigilant to pending fluctuations in real property assessment levels and proactive on appealing their assessments, if warranted.
A review of how European hotels have been affected by COVID-19 thus far and a forecast of the expected recovery over the next few years. This article also explores the factors that will influence willing buyers and sellers and looks at different scenarios to assess the evolution of EBITDA and value ranges.
Note: This article first appeared in Bird & Bird's quarterly newsletter.
Strictly implementing SOPs with 100% accuracy and training our associates to live by those SOPs is the need of the hour. ‘Safety’ should be built into our hospitality DNA as that alone can help us rebuild trust and customer confidence.
It is inevitable – many hotels will go into receivership and/or foreclosure in the coming months. Some owners cannot afford to fight any longer, some lenders cannot kick the can down the road any longer, or any number of other reasons will start them down this path.
This article explores operational changes, specifically looking at cleanliness, as the hotel industry adapts to the challenges of COVID-19, outlining the initial response taken by hoteliers and examining where we are as an industry today and what to expect in the future, now that brands have established procedures and protocols for addressing the pandemic.
As value-driven domestic tourists become the ‘knight in shining armor’ for the Indian hospitality sector in the COVID era, the Midscale hotels segment, which accounted for approximately 43% of the total supply in the country in 2019, is expected to lead the revival of the sector. Read on to know more.
HVS compiled the Q2 2020 performance statistics of brands reported by public companies. The data reflect the resiliency of economy, extended-stay brands during the first months of the pandemic.
Nevada began its emergence from the COVID-19 pandemic shutdown on May 9, 2020, after Nevada’s Governor Steve Sisolak authorized certain businesses, including restaurants and retail establishments, to reopen with limitations. Nevada’s casinos were allowed to reopen on June 4, 2020, with restrictions. This article provides an update of the status of the Las Vegas market since Nevada’s casinos were allowed to reopen.
This publication provides an overview of upcoming, current, and historical trends in the federal lodging per diem, with a focus on the per-diem rates for the top hotel lodging markets, as defined by STR.
In the coming months, a true gem of a site in the heart of Hong Kong will be sold. Located in front of its iconic skyline, Site 3 measures 4.76 hectares between Jardine House (the one with the round windows) and the Star Ferry pier. We take a look at what could be accomplished here.