One of the engines of the Spanish economy is tourism, attracting in a good year about 85 million visitors, almost double the country’s entire population. The Covid-19 pandemic has had the most detrimental impact in memory on Spain’s hotel sector, a key pillar of the tourism industry, which...
The pandemic has ravaged businesses in every sector across the world. One of the hardest hit areas has been the hospitality industry. When nearly universal stay-at-home mandates were instituted, travel came to a halt, leading to unprecedented turbulence and a disproportionate impact on the lodging...
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...
This issue of the Journal of Corporate Renewal focuses on hospitality, which unquestionably was one of the hardest hit sectors during the COVID-19 pandemic. With almost no warning during early March 2020, hospitality owners, lenders, management companies, and investors were hit with an...
Speakers discuss the impact of the COVID-19 pandemic on hotel operators. Hear about the state of the hotel industry, how brands are reacting, their cash needs, and more.
