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Distressed hotel deals are now visible, but access to many would-be discounted transactions in the sector looks restricted.
A nine-month ‘national timeout’ for the hospitality sector will bolster liquidity, according to the private wealth law firm.
The investor believes the pandemic’s impact on its five Dutch sector portfolios this year will range from ‘severe’ on its Hotel Fund to ‘limited’ on its Residential Fund.
Evaporating hotel occupancy levels stemming from the coronavirus pandemic have forced the Singapore-based firm to revise its exit strategies for assets in its third and fourth opportunity funds.
Venturous Smart City
The world’s property markets are watching the country’s doors re-open for indicators of life after coronavirus
Transactions fell out of contract in March at three times the normal monthly rate, according to RCA.
During its first-quarter earnings call, the New York-based mega-manager said it had $44bn to deploy in real estate when opportunities arise.
Coronavirus shutdowns have pushed nearly $25bn of US CMBS loans to the brink of delinquency, and the worst is yet to come.
China, Hong Kong and Singapore were the property markets most affected by the pandemic, with investment volumes plummeting by more than 60%.
UBS' real estate and private markets business analyzes the areas of private real estate that will bear the biggest short-term impacts of a world under lockdown.
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