Lodging Sector Facing Protracted Recovery

Nareit's REIT Report Podcast · Apr 9, 2020 · 11m

The lodging sector was one of the first industries to feel the economic brunt of the coronavirus crisis, and it will likely be one of the last to benefit from an eventual upturn, Pebblebrook Hotel Trust (NYSE: PEB) Chairman and CEO Jon Bortz said.

Speaking April 9 on the REIT Report podcast, Bortz said about half of the hotels across the industry have now closed completely, with millions of employees furloughed. “We think it’s going to be a very slow recovery,” he said.

By the end of March, operations at all but eight of Pebblebrook’s 54 hotels had been suspended and over 7,500 employees…