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Luxury Travelers Pushing Hotel Room Rates Past Pre-Pandemic Levels In Tourist Destinations
News

Luxury Travelers Pushing Hotel Room Rates Past Pre-Pandemic Levels In Tourist Destinations

The uneven recovery from the pandemic-induced recession is already bearing out in the hospitality market, as certain markets and ... self-identify as "luxury travelers" told surveyors from hospitality and tourism marketing firm MMGY Global that they plan to ...

Apr 29, 2021
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New York City skyline from One World Observatory
News

NYC Rent Collection Rates Dropping, Vacancy Rising As Relief Seems Far Away

... the economic bleeding, indicators show New York's economic recovery from the nadir of the coronavirus lockdown is stuck ... and stop the economic hemorrhaging with renewed urgency. NYC Hospitality Alliance Executive Director Andrew Rigie called on state and ...

Sep 21, 2020
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Investors Slap £500M Price Tag On London's Hard Rock Hotel
News

Investors Slap £500M Price Tag On London's Hard Rock Hotel

... test the appetite for the sector as it continues its recovery from the pandemic. Just over £4B was invested in UK ... -blasted figure for 2020, data from Savills showed.  Data from hospitality analytics firm STR showed the UK to be the best ...

May 20, 2022
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new normal
News

Gov. Newsom’s Economic Reopening Announcement Isn't The Defining Moment CRE Needs

... colleagues will definitely be masked, he said, adding that the hospitality and restaurant industries should bounce back quickly. However, a resurgence ... this year we're going to have a very good recovery — we just need to get more shots in the arm ...

Apr 09, 2021
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save philly restaurants
News

The Survivors In Philly's Restaurant Scene Have Begun To Exhale

... restaurants across the country. The Pennsylvania COVID-19 Hospitality Industry Recovery Plan adds another $145M from the commonwealth, ... was the widespread loss of jobs in the hospitality industry. Even restaurants that maintained takeout businesses ...

Apr 04, 2021
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Cash money U.S. currency funds for distressed investing
News

Cerberus Puts Together $2.8B To Pursue Opportunistic Deals

... provided us with the opportunity to invest in the recovery of the hospitality sector following an unprecedented market dislocation," Cerberus Head of ...

Mar 30, 2021
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Outdoor dining NYC
News

Restaurant Group Calls For Expanded Eviction Moratorium, More Aid As Sales Drop Persists

... the extension of the moratorium on commercial rent evictions," NYC Hospitality Alliance Executive Director Andrew Rigie said in a release. ... of government to revive the industry, the chances of recovery for these businesses and the city will only diminish."  ...

Mar 24, 2021
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Hersha Sells Hotels In D.C., LA, Boston, Philadelphia For Combined $505M
News

Hersha Sells Hotels In D.C., LA, Boston, Philadelphia For Combined $505M

Hersha Hospitality Trust is culling seven hotels from its portfolio in a  ... unique operating model, positions us for strong performances across the recovery.” Among the hotels Hersha is selling are the Courtyard Brookline ...

Apr 28, 2022
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Spring Break Chaos On Miami Beach: Just A Blip For CRE
News

Spring Break Chaos On Miami Beach: Just A Blip For CRE

... commercial property values. Max Commus, managing director in the hospitality investment advisory practice at Hodges Ward Elliott, said he was ... data point we're pointing all investors to is the recovery of the Miami market after the Great Financial Crisis ...

Mar 23, 2021
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CRE Executives Make Their 2021 Predictions For The Industry
News

CRE Executives Make Their 2021 Predictions For The Industry

... anticipates increased distressed asset sales in 2021, with an industry recovery beginning to pick up in the second half of the ... 40% less. With the distribution of the vaccine, I believe hospitality will be one of the first to feel signs of ...

Jan 03, 2021
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