After the worst recorded year ever for hotel performance, 2021 appears to potentially offer some hope, though challenges for the industry remain. As of January 2021, U.S. hotel occupancy stood at 40%, down by 30.6% from a year ago; average daily rate (ADR) was at $90.3, down 28.1% from a year ago;...
Hospitality was one of the first industries to be impacted by the pandemic, and it will likely be one of the last to recover. With business and international travel all but suspended and leisure travel significantly restricted, the industry in 2020 experienced its worst performance since the Great...
It is no secret that COVID-19 has negatively impacted commercial real estate across all asset classes, but arguably, no sector has suffered greater harm than hospitality and lodging assets. The economic devastation wreaked on the hospitality industry by the global pandemic beginning in March 2020...
As economic calamities in the U.S. dominate the headlines, and the media focus relentlessly on the supposed demise of the retail, hospitality, and other industries, businesses of all sizes are forced to contemplate their futures. In particular, small and medium-size businesses (SMBs), as well as...
Pursuant to the Small Business Reorganization Act of 2019 (SBRA), which became effective on February 19, 2020, Chapter 11 of the U.S. Bankruptcy Code was amended to include new Subchapter V. Through newly added Bankruptcy Code Sections 1181-1195, “small business debtors” should be able to...
As most turnaround professionals know, federal legislation in response to the coronavirus pandemic created a limited window for more businesses to qualify for what is intended to be a faster, less costly, and simpler route through bankruptcy. This route exists through the Small Business...
The addition of Subchapter V to Chapter 11 of the U.S. Bankruptcy Code is an important innovation that introduces significant cost savings, allowing small business debtors an opportunity to reorganize. Most notably, Subchapter V transforms the role of the trustee from one of prosecutor to that of...
The Small Business Reorganization Act of 2019 (SBRA) became effective on February 19, 2020, bringing with it a new reorganization tool for small business debtors: Subchapter V of the U.S. Bankruptcy Code. Subchapter V streamlines the Chapter 11 bankruptcy process for small business debtors,...
Whether a company is large or small, public or private, the role of the CFO is moving from reporting the past to anticipating the future—and managing the associated risks and opportunities. One consequence of this expanded role and the resulting higher expectations is greater turnover. Recent...
For decades, companies in financial distress in Europe have faced different and at times difficult local laws for restructuring in each member state of the European Union. In most member states, only insolvency regimes offering court-led proceedings have been available. Such proceedings have not...
