By: Dr. Ryan Giffen Assistant Professor of Hospitality Management at California State University, Long Beach The COVID-19 pandemic has forever changed our world and its parts, especially for the hospitality industry. At worst, many businesses have been decimated and run entirely out of commission, with operations such as spas and restaurants closing their doors indefinitely, […]
By: Johanna Wagner and Carina Hopper, Lecturers at ESSEC Business School Introduction A new era of sustainability is at our doorstep, in which the hospitality industry has the potential to become a model as an open window to some of nature’s most beautiful gems, a source of unique experiences for guests and a major provider […]
By: Lindsey Lee, Assistant Professor at Temple University’s School of Sport, Tourism, and Hospitality Management; Phillip Jolly, Elizabeth M. King Assistant Professor, School of Hospitality Management, Pennsylvania State University; and Heyao Yu, Assistant Professor at the School of Hospitality Management at Pennsylvania State University Few, if any, industries were harder hit by the COVID-19 pandemic than […]
By: James Houran, Ph.D.Managing Director at AETHOS Consulting Group and J. Bruce Tracey, Ph.D. Professor at Cornell University’s School of Hotel Administration Pine and Gilmore’s (1999) famous concept of the “experience economy” – introduced nearly 25 years ago – asserts that businesses intent on competition or differentiation must deliver “memorable events” for consumers because such […]
By: Kaushik Vardharajan, Director, Real Estate Program Boston University School of Hospitality Administration It was a year ago, on March 11, 2020, when the WHO declared the COVID-19 outbreak a pandemic of global proportions, leading to lockdowns of many countries and an almost complete cessation of travel across the world. Once the scale and seriousness […]
By: Arun Upneja, Ph.D. Greetings from the School of Hospitality Administration at Boston University and welcome to our Real Estate Issue of Boston Hospitality Review (BHR). At the time of this writing after an existentially “long cold lonely winter,” to quote the Beatles, “the smiles are returning to the faces” (even if masked) as vaccinations […]
By: John O’Neill, PhD, Pennsylvania State University Various stages of the economic cycle have been a popular discussion topic at many hotel investment conferences in recent years. These discussions have included hypothesizing by panel participants regarding what is the current phase of the cycle (sometimes likening economic growth cycles to a baseball game, and conjecturing what […]
By: Serena Lipton & Zach Bowyer, MAI, JLL Seniors housing, while still a highly niche sector, is quickly evolving to become a core investment. According to JLL Research, there are approximately 24,500 properties, comprised of 1,687,000 senior living units and 1,461,000 nursing care beds. “Seniors housing” is an umbrella term that encompasses approximately four diverse care types, including […]
By: Mark Owens, John Avanzino & Robert Webster, CBRE Hotels Introduction The Hospitality Industry has experienced many shocks, none as severe as the COVID-19 virus. This article focuses on COVID’s impact on the U.S. hospitality real estate finance market, providing insight into the state of the market pre-pandemic, lending community sentiment, lender engagement and market participation, and the COVID […]
By: Chad F. Sorensen & Gabriel Stein, CHMWarnick Prior to the onset of COVID-19, hoteliers around the world were enjoying a “Golden Age of Hospitality.” Record-breaking performance in 2019 continued a period of reliable growth, development pipelines surged globally, portfolios expanded from a proliferation of brands with minimal differentiating attributes, and investor confidence remained strong resulting in healthy […]