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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.
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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?