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Hotel Lenders Rush Back In Even With Growing Labor Shortage Crisis


While daily rates, revenue, and property values are all likely to return to pre-pandemic levels and even eclipse them the hotel industry’s labor market faces permanent changes. Other industries like retail offer more competitive wages to hotel workers with easily transferrable skills.
But investors don’t seem to mind that swelling operational issue. There’s only about a 60-lender gap between today’s market and the pre-pandemic one in the U.S., according to CBRE’s “U.S. Hotels State of the Union” report.
“The expedited return of capital to the market is faster than what we’ve seen historically,” said Mark Owens, head of hospitality capital markets at CBRE Hotels. “This is a far better return of liquidity to the market than we’ve seen historically for hotels, so that bodes really well for all of us.” ....

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Investor With $1 Billion War Chest Will Go Hunting Hotels When Good Deals May Be Lacking


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Dreamscape Cos. is the latest investment firm to announce plans to direct cash into the struggling hotel industry, particularly properties catering to business travelers. It isn’t clear when those deals will if ever transpire.
The New York City-based investor, which bought the Rio All-Suite Hotel & Casino in Las Vegas in 2019 for $516 million, has more than $1 billion on hand to buy hotels.
While it is expected to look at all opportunities, Dreamscape is notably exploring properties in the struggling business-transient and convention sectors two areas with a less certain recovery timeline. ....

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La Jolla firm joins rush to acquire financially troubled hotels amid pandemic


La Jolla firm joins rush to acquire financially troubled hotels amid pandemic
Over the past year, hotels have faced much-diminished demand for overnight stays amid the coronavirus pandemic, which has sharply curtailed leisure and business travel.
(The San Diego Union-Tribune)
The newly formed Torrey Pines Hotel Group will join a Los Angeles-based firm to buy up financially distressed hotels at discounted rates and manage them long-term.
Print
As hotels struggle to survive a nearly year-long pandemic that has crushed business and leisure travel, an increasing number of companies are rushing in to acquire financially troubled properties at what they hope will be discounted rates. ....

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San Diego firm joins rush to capitalize on hotels' financial woes in wake of pandemic [The San Diego Union-Tribune]


FAIRFIELD-SUISUN, CALIFORNIA
San Diego firm joins rush to capitalize on hotels’ financial woes in wake of pandemic [The San Diego Union-Tribune]
As hotels struggle to survive a nearly year-long pandemic that has crushed business and leisure travel, an increasing number of companies are rushing in to acquire financially troubled properties at what they hope will be discounted rates.
Jumping into the fray locally is the newly formed La Jolla-based Torrey Pines Hotel Group, with has partnered with Los Angeles-based investment firm Bainbridge DSX to not only acquire lodging properties across the globe but also manage them for the long term. ....

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