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.
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.
Travel Channel's Anthony Melchiorri and hotel industry expert and No Vacancy podcast host Glenn Haussman speak to our President & CEO, Stephen Rushmore, Jr. about some critical hotel investment related topics. Topics include valuation trends, marketplace opportunities, independent vs. branded hotel investments, how banks perceive the hotel business and more.
If you would like to view the recording of the September 8, 2020, global webinar, you can access it here. It covers valuable information about the current state of the hospitality industry across global regions, as well as candid insights into the future of the hospitality industry. You can also access the related slides by clicking on the PDF button above.
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.
Over the past few decades, environmental and social factors, such as modernized living, have been driving the growth of wellness. While hotels are finding different ways to engage in this trend by incorporating wellness-related elements into the guest’s journey, destination spas are taking wellness to the next level with their unique offerings. This article takes a deep dive into wellness-hospitality development and discusses its distinguishing characteristics and key success factors.
Mobile phone proliferation and the rise in social media users is poised to present unique opportunities for hotel companies. How are hotels currently utilizing social media marketing and are they ready for the future?