Wednesday, October 28th, 2020
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Today’s global travel sector, which many characterize as being “on the brink of collapse,” is simply unprecedented. Seven months into a 100-year worldwide pandemic which caused a swift, wide, and deep economic recession has decimated key travel and leisure related industries including airlines, car rentals, cruise lines, ridesharing, and tour operators. While stock markets have rebounded to near record levels, the US lodging industry continues to experience crippling stress as travel demand, which has experienced a sharp and sustained decline, continues to significantly lag pre-pandemic levels. Although most segments of lodging demand came to an abrupt halt during the COVID-19 crisis, hotels located in urban markets, particularly group and meeting/convention-oriented properties, have been most negatively impacted and will likely take the longest period to recover.
The LW Hospitality Advisors (LWHA) Q3 2020 Major U.S. Hotel Sales Survey includes 12 single asset sale transactions over $10 million, none of which are
While most people are attuned to the Presidential, Senate and House races next week, there are many critical state and local issues on the ballot on Nov. 3.
In a blog post Toby Burke, the senior director of State and Local Affairs for NAIOP, points to two ballot initiatives that will significantly impact commercial real estate by restructuring property tax revenues within their respective states.
In California, residents will vote on Prop 15. If it is adopted, it will increase the property taxes on commercial and industrial properties by an estimated $11.5 billion, according to Burke.
In Colorado, the 1982 Gallagher Amendment established a statewide mandate that the ratio between residential and commercial property tax collections is 45% to 55%, which places a high tax burden on property owners, according to Burke. Amendment B would repeal the ratio requirement under the Gallagher Amendment.
Also, Burke says several ballot initiatives
Whether your home is hit by lightning, hail, or some other calamity, you’ll be awfully glad you have a home insurance policy in place to help foot the cost of repairs.
Yet while homeowner insurance typically covers a variety of common hazards that can befall your home, don’t get too confident, because it may not cover every mishap that may come your way.… Read More