Articles tagged “cbre”

Hotels face massive worker shortages this summer, but investors don't care and still want to buy up assets. Chalk this up to taking the long view and hoping hotels find a way to win back workers from other industries.

This general manager of an iconic Times Square property experienced turbulent times in Turkey, and tempers expectations of a quick recovery for New York.

Want to build a new resort by the beach or acquire a five-star hotel downtown in a major U.S. city? Lenders are listening. But if you want to break ground on a roadside motel in a secondary market, you may be waiting for the bank to return your calls for several years.

Don't be fooled by these numbers in the United States. It will be years for hotel construction to once again hit peak levels seen only months ago.

Unless a vaccine or widespread coronavirus treatment becomes available this year, a W-shaped hotel industry recovery seems likely. But that doesn't mean hoteliers should accept that fate — alternative revenue streams are out there.

Hotel construction output lags metrics like occupancy in response to economic conditions. But the slow reaction time also means the development pipeline will likely take far longer to rebound from coronavirus than hotel performance.

Hoteliers should spend less time worrying about recovery timelines and focus more on boosting occupancy rates above break-even operational cost levels as quickly as possible. That may mean considering some non-traditional factors.

Ongoing government coronavirus relief efforts like the $2 trillion CARES Act and banks unwilling to take over hotels should keep most of the world's hotel supply intact through a very turbulent 2020.

Gross operating profits tanked in March, and it could take until 2021 for them to get to levels where owners can satisfy operational costs and mortgage payments.

An unprecedented downturn calls for a hotel performance metric shakeup, as revenue declines don't show just how deep the coronavirus downturn in travel really is.