How Will Climate Change Affect Travel for Responsible Tourists?
Travel this summer should include consideration for responsible tourism. Modern travelers are seeking to know the impact of their travel plans on the world around them -and how climate change can affect their travel plans. The new travelers loves hotels that donate their leftover soaps to clean world initiatives. They try to support the local […]
How to Prepare Your Hotel for Family Summer Vacations
It’s time for hotel owners and managers to prepare for the upcoming summer season. Expedia Group CEO, Peter Kern, tells Bloomberg that “summer 2022 will be the busiest travel season ever.” Kern is not the only one. The World Travel & Tourism Council predicted that US travel and tourism would exceed pre-pandemic levels by 6.2%, accounting […]
Cater to the “New” Traveler with Sustainability – Why it’s Essential for Hotels
The modern young business person likes to travel. They consider themselves a digital nomad – or someone who could be – and they like the idea of leaving only a small footprint on the world as they go. This is great news for the recovering hospitality industry, which has been striving to regain pre-2019 booking […]
Let’s 1031: All You Need to Know About a 1031 Exchange and It’s Benefits for Hotel Investors
1031 exchange is not a mere tax bypass strategy. It’s a useful wealth creation principle. This exchange is popularly used by real estate investment moguls to grow their portfolios and increase net worth faster and efficiently. By using 1031 exchanges, real investors can sell a real estate property and reinvest the proceeds into another real […]
What is the Cost of Labor in the Hotel Industry?
The cost of labor has been steadily on the rise. How will this affect the hotel market going forward? The rising cost of labor has been a hot button topic in recent months. According to Reuters, labor costs in 2021 “surged [about] 4.0% on a year-on-year basis, the largest rise since 2001.” With both wages […]
NewGen Advisory Partnering with the Arizona Housing Fund to Raise Funds for Affordable Housing
Hotel brokerage kicks off partnership with $5K donation PHOENIX (January 12, 2022) – NewGen Advisory, a boutique brokerage firm specializing in exclusively hospitality assets, has made a $5,000 donation to the Arizona Housing Fund and joined the Fund as a partner in the Escrow Donation Program. The brokerage, which is based in Arizona and operates […]
A Guide to a 1031 DST and the Hotel Industry
The strategic swap of business properties is a useful way to defer capital gains taxes. A 1031 Delaware Statutory Trust (DST) uses the standard 1031 exchange as a base but develops the agreement further. If you’re looking to invest in hotels for sale and expand your portfolio, then it’s worth investigating the benefits of a […]
5 Tips For First-Time Hotel Buyers
As the world reopens after the pandemic, many industries are experiencing substantial increases in profitability. The hospitality industry is starting to grow leaps and bounds as many people are traveling after spending a year at home. If you are a savvy investor looking for a great opportunity to make money, then buying a hotel is […]
NewGen Advisory completes 1031 exchange transaction in 30 days
NewGen Advisory is pleased to announce the closing of a large, all-cash 1031 exchange transaction that the company was able to facilitate in 30 days amidst the Thanksgiving holiday. The associated 120-unit property is located in Phoenix, Arizona on Northern Avenue and Highway 51, adjacent to Piestewa Peak and near the Biltmore district, and falls […]
The state of the hospitality market – Is the market dictating a sell now strategy?
Hotels working to meet ends meet and provide to those they can, have yet to reach pre-Covid levels of demand. Due to the market conditions, it seems many of these hotels that haven’t brought their numbers back up might be looking into putting their hotels up for sale to save what they can. Here’s what […]