Hotel Industry: Guest Expectations After Lockdown
After months of lockdown, hotels are open for business once again. However, the business will not go back to how it was, and innovative and adaptive change is needed to find success. In 2020, through the lockdown, guests developed expectations from the hotel industry. Considering the drastic effect that COVID has had on the hotel […]
Introduction to 1031 Exchange & How Hotel Investors Can Benefit
The process of investing in a hotel provides various investment options. There are several methods to acquire property. Exploring these different options will bring prospective buyers face-to-face with 1031 exchanges. As well as the alternative of opportunity zones. The hotel industry is thriving and has a global value of more than $570 billion. Investors continue […]
NewGen Advisory Delivers Results During Pandemic Squeeze on Hotels and Housing
Phoenix, May 2021 – NewGen Advisory (NGA) created a task force to help hotel owners and alternative use buyers during the pandemic. The initiative tapped expertise from multiple industry experts to help hoteliers safeguard their investments and increase the number of dwelling options for the depleted housing market. NGA’s task force team of hospitality experts […]
Solving the Hotel Industry Labor Issue
The skies are undoubtedly sunnier for many hotel owners and investors as vaccines are rolling out and businesses open up. A perfect example of this change in fortunes is seen by merely turning on the television and watching sporting events. Audiences are packing arenas and stadiums once more–and that’s splendid news for hotels. Even going […]
8 Factors to Consider with Hotel Conversions
It’s true… the Covid-19 pandemic has dealt a major blow to the hospitality industry. With tourism stifled and convention centers abandoned, many hotel owners have put their hotels for sale at bargain prices. Enter the savvy real estate developers who understand the cost of construction and recognize the value in acquiring and then converting hotel […]
Why Hotel Conversion?
In 2019, hotels across the country experienced a tremendous bull run from the last recession. Capital was abundant, supply was plentiful, and demand was high. Enter the COVID-19 pandemic of 2020. The hotel industry halted abruptly with stay-at-home orders and nationwide lockdowns. Occupancy and revenue for hotels plummeted to record lows. Many industries struggle to […]
The New Minimalistic Guest Room Approach
“Less is more”, as Coco Chanel used to say, may no longer apply exclusively to the fashion world. In light of the “new normal” brought about by the COVID-19 pandemic, minimalism is now an essential strategy to maintain spaces clean and safe. Whether you own a hotel, or if you’re simply a homeowner who hopes […]
SBA loan payment relief due to COVID-19
Congress has authorized a much-needed second round of Section 1112 payments to eligible SBA loan recipients. This funding is available to eligible, non-casino hotels and motels (NCAIS 721110) with up to eight months of additional relief. This second round of payment relief is set to begin February 1, 2021 or when a hotel or motel’s […]
Top 5 Hospitality Trends for 2021
The hospitality industry evolves at a rapid rate. That hasn’t been more truthful than with recent global events that shape all aspects of lives. The hospitality industry is more competitive and challenged than ever before. Keeping updated with the latest industry news and trends is essential. But keeping tabs on everything can be challenging. So […]
Health, Hygiene and Safety: The New Customer-Trust Currency
The pandemic has upended numerous elements of all areas of business. This is especially true for the hotel industry and all who inhabit it. One thing to keep in mind is that things might not shift entirely back to normal once the pandemic is over. Customer attitudes, values, and currency have changed and aren’t likely […]