Considering Purchasing a Commercial Note? Triple up the Due Diligence.
Every financial cycle or economic downturn brings forward its fair share of distressed assets. In these situations, banks and lenders will often start shopping out non-performing loans to shed some liabilities off their books or even free up capital. This inevitably brings out investors looking for an opportunity to get a steal in the marketplace. […]
How to Drive Revenue for your Hotel with Group Sales
With hotels being decimated by COVID-19, hoteliers are looking for any strategies to help them increase revenue. One of the areas that many hotels are focusing on is group sales. Although this may not have been a big push for you before 2020, now could be the perfect time to actively build this side of […]
Hotel Industry needs COVID Relief Now
The hotel industry needs additional help to stay afloat, and that help has been slow in coming. With the 2020 presidential election less than a month away, countless hotel owners worry they won’t survive the holidays without additional economic relief. The American Hotel & Lodging Association (AHLA) surveyed 1,000 hotel owners, operators, and employees at […]
Five Ways to Creatively (and Inexpensively) Market Your Hotel through COVID-19
Given the state of hospitality today, hoteliers need to think very creatively to capture new business. Four out of ten hospitality workers are still not working. According to a recent AHLA article, more than half open hotel rooms were empty across the country as of August 1st, 2020. This is in addition to the thousands […]
Target Leisure Travelers Until Business Travel Recovers
It’s no secret that COVID-19 has had a tremendous effect on the business travel industry. Since March 2020, experts estimate this $1.5 trillion industry has lost around $518 billion; devastating numbers for transportation, hospitality and more. According to Dave Hilfman, executive director of Global Business Travel Association – a trade group with around 9,000 members […]
CMBS Loan Relief for Hotels – September 2020 Update
Back when the first CMBS loan relief was offered, no one could have predicted how little it would help. Its 90-day deferral of payments got hotels through April, May and June only. Then June rolled around with no end in sight and so a second wave of CMBS loan relief arrived in the form of […]
Younger Demographic Less Fearful of Travel and Hotel Stays
At the beginning of August, consumer confidence fell to its lowest level in six years amidst summer coronavirus surges. The Conference Board Consumer Confidence Index declined to 91.7 in July and then decreased to 84.8 in August. The Present Situation Index, which measures consumers’ assessment of the current state of labor and business, decreased significantly […]
How the “Internet of Things” can help hotels bounce back from COVID-19
The world has changed, and if hotels want to bounce back from the pandemic, they will have to change with it. The old status quo is a thing of the past; replaced with a “new normal” of mask-wearing, social distancing and more. Thankfully, we live in a highly digital age where technology can help hotels […]
Three things hoteliers must do to keep data safe
The more companies use and leverage technology, the higher the security risk to the company and its customer base. This past June, Twitter learned this lesson the hard way when cyberattackers managed to send out tweets on behalf of some high-profile individuals. Twitter announced that business clients using its advertising and analytics were subject to […]
What Does the New Normal Look Like for Hotel Owners?
As we continue to make our way through the single biggest global crisis in recent memory, hotel owners are left not only with vastly reduced occupancy, but also with the burden of dealing with a “new normal.” As hotel owners consider how to move forward, there are three key areas to focus on: enhanced cleaning […]