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May 27, 2020

Bottomed-Out Hospitality Industry Begins Hopeful Strategizing

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After a promising start to 2020, the hotel market hit bottom fast, but operators are now picking themselves up and looking toward 2021.

“Right now, the whole industry is in survival mode, so I feel like one of those crazy reporters on the Weather Channel, because we’re right in the eye of the storm called COVID,” Scarlett Hotel Group co-founder Rob Sadoff said Thursday during Bisnow’s Chicago Deep Dish: Lodging and Hospitality webinar.

Bottomed-Out Hospitality Industry Begins Hopeful Strategizing

“The good news is we found the bottom of the upper- to mid-scale market in the second and third week of April, and there’s been a small blip up since then,” he said. Scarlett shut down its Chicago hotel, where revenue was down 96%, but kept its Omaha, Nebraska, hotel open,…

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Casual Dining Sector Was Softening Even Before The Pandemic

Casual Dining Sector Was Softening Even Before The Pandemic

Net lease transactions in the casual dining sector were mostly put on hold by the coronavirus crisis, as tenants switched to carryout and delivery and sales volumes dropped significantly. But even before that, investors had begun to look skeptically on several brands seen…

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Sinking Feeling: Elevators Could Thwart Office Re-Entry

Elevators make the modern city possible. In New York City alone, commuters take an estimated 4 million elevator rides per day on tens of thousands of elevators. In China, two-thirds of a million of them are put into commission every year. Globally, the industry approaches $125B. But as cities continue to grow — and grow vertically — this crux to innovation may ultimately be the Achilles' heel of the city as we know it.

In recent weeks, the elevator has risen to the top of the list of office re-entry safety concerns. 

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Will Demand For Less Density Offset The WFH Office Exodus?

 

As companies hone their office re-entry plans, some landlords are betting that companies requiring more space will offset the ones pivoting to remote work.

That could help buoy the sector in a post-pandemic recovery, as office footprints expand, some said this week.

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Telehealth Might Fill A Healthcare Gap, But Providers Still Face A Big Revenue Hole

As physician practices and hospital systems see a dramatic decrease in the number of patients entering their offices — if those offices are open at all — many have resorted to telemedicine to keep billings coming in.

But reimbursements by insurance companies to see patients remotely can't replace the billions of dollars healthcare providers have lost during the coronavirus pandemic thus far.

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My New Normal: 9 Questions With Rockspring President Michael Ross

 

This series aims to capture a moment in time, talking to men and women in commercial real estate about how their lives and businesses are being transformed by the coronavirus pandemic.

Michael Ross has been in the business of real estate acquisition and development for years, but the coronavirus pandemic gave him a chance to try something a bit different: home renovations. Uncertain of when contractors could come out and begin the remodel of his backyard and garage in this environment, Ross took on the project.

He had experience in a similar field: Ross served as vice president at Todd Land Co., a residential development company in the Houston metro area. 

Ross joined real estate investment firm Rockspring in 2006 as senior vice president of entitlements. In August, he took on the roles of president and chief strategy officer, where he manages the day-to-day operations of the company.

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