Understanding property: Covid-19 and hospitality properties
Reflections from Property Webinar Series Session #3
In the third session of the Property Webinar Series "COVID-19 and Risk Assessments on Hospitality Property Holding Decisions", we explored the implications of the Covid-19 pandemic recession on hospitality properties and how the current crisis differs from the global financial crisis. The panel consisted of Adam Nowak, Associate Professor of Economics at West Virginia University, Jonathan Falik, Founder and Chief Executive Officer at JF Capital Advisors, and Karen Friebe, Partner at Bird & Bird.
This session responded to the COVID-19 pandemic’s ongoing effects on the hospitality industry, which has spurred renewed conversations on risks associated with hospitality properties. It focused on the approaches to risk of different actors involved in hospitality property holding – with close attention to how owners, lenders, operators, and brands identify risks in hospitality properties.
The session aimed to bridge knowledge between owners, lenders, operators, brands, and academics with a focus on identifying various strategies and solutions which help mitigate risks associated with hospitality property transactions and holdings. In light of the COVID-19 pandemic, the webinar focuses hospitality properties and challenges the expert panellists to identify short- and long-term risks associated with properties in light of current market conditions, regulatory frameworks, and global public health crisis. In doing so, the session of the webinar series aimed to better bridge the academy with practice – bridging expert knowledge on complex subjects with contemporary practice.
As moderator of the session, I wrote a reflective summary on the first webinar, which is published in the Centre for Urban Studies blog series, which can be found here: