In this episode of BayBridge Real Estate Capital Talks, Managing Director Jay Miller interviews LW Hospitality Advisors COO Evan Weiss about trends in the hospitality industry in the time of COVID and beyond.
LWHA's LW Hospitality chats with Ashish Lall at Fortuna Hotels, Russell Shattan at MCR Hotels and Todd Birnbaum, Partner at FOC, Ravi Dave at Three Wall Capital LLC.LW Hospitality Advisors® (LWHA®) provides a myriad of services focused exclusively on hospitality and gaming real estate worldwide.
The year 2020 will not be soon forgotten as the spread of COVID-19 and society's reaction to the virus have combined to devastate the global economy. U.S. GDP in the second quarter declined by 32.9 percent on an annualized basis, the most significant quarterly decline observed since the 1940's.
At several points during 2019 many market participants believed the grind higher was going to come to a halt. However, this did not occur, even after a tumultuous 4Q18 where many experts were calling for a downturn.
While the U.S. continues to be in the midst of its longest uninterrupted economic expansion in modern history, slowing growth metrics along with abundant geopolitical uncertainties are heightening perceived risk of impending recession.
With 121 consecutive months of growth through Q2 2019, the U.S. economy is now in record territory for the longest expansion period in history. The decade long economic expansion has been fueled in part by job growth, record low unemployment rates, and low-interest rates in the capital markets.
While the longer economic growth endures, intuitively the risk of recession rises. Despite GDP indicative of a slowing economy during Q4 2019, the U.S. economic expansion which commenced in June 2009, is soon approaching the longest post-World War II expansion with uninterrupted growth.