Greetings & Market Updates Amid Global Pandemic

Greetings and best wishes to you and your loved ones amid this unprecedented global situation.

Hope you and your loved ones are doing well and staying safe.

Although most hotels have shut but in several countries, some owners have allowed hotels to be used for medical professionals or for quarantined patients for which we must salute to such owners at this time of dire human need. We must strive to help each other.

Some market updates are as follows:

Australia: 

4 Apr 2020: Brand new Sydney Vibe Hotel sells to Thai group for $108m

24 Mar 2020: Devonport Waterfront Hotel sold for $40 million 

UK:

2 Apr 2020: UK: Duff & Phelps administrators close hotels amid Covid-19 fears 

3 Apr 2020: Two Best Western hotels to be first turned into discharge hospitals 

Even Trump hotels are on hold.

1 Apr 2020: Trump DC Hotel Sale Put on Hold 

London Ritz sold to Qatari sheikh last week.

29 Mar 2020: Has the 'Sheikh who bought London' forked out £700million for the Ritz? Famous hotel is sold to a Qatari investor ending more than a century of British ownership 

Hotels are down but definitely not out

2 Apr 2020: Shuffled Not Shaken Out: How Hotel Giants Will Handle All Those Brands Post-Coronavirus 

As it happens in all crisises, there is an opportunity for others.

This hotel is on distress sales in Scotland:

19 Mar 2020: 'Disgusting' North Coast 500 hotel for sale at knockdown price 

A Highland hotel branded 'disgusting' on Tripadvisor is up for sale with a fixed price tag of £195,000.

Here are some tips from JLL for Hotel Owner/sOperators.

JLL shares crisis management tips for tourism operators

If you come across any distress sale opportunities or any other updates, you may let us know.

Best wishes from our home to yours.

Stay safe and take good care!