Post-COVID Permanent Closures (or cancelled projects)
May 27, 2020, 8:47 am
#1
Original Poster
Join Date: Aug 2007
Posts: 1,161
Post-COVID Permanent Closures (or cancelled projects)
How about a central place where we keep track of hotels closing permanently or previously announced properties that are cancelled?
Sad to see the H.R. Buffalo is no more.
I suspect there will be more to follow as property owners default on their mortgages/loans...
Personally, I'm worried about the Playa properties (Ziva, Zilara, etc.)...
Sad to see the H.R. Buffalo is no more.
I suspect there will be more to follow as property owners default on their mortgages/loans...
Personally, I'm worried about the Playa properties (Ziva, Zilara, etc.)...
May 27, 2020, 12:23 pm
#3
FlyerTalk Evangelist
Join Date: Aug 2011
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In very few situations will an empty building be the final result...
May 27, 2020, 1:39 pm
#4
Original Poster
Join Date: Aug 2007
Posts: 1,161
Property owners default on loans --> banks own a hotel. Banks don't like operating hotels so they will probably contract the management to the chain whose name is already on the side of the building.
In very few situations will an empty building be the final result...
In very few situations will an empty building be the final result...
Apr 2, 2022, 6:02 pm
#5
Suspended
Join Date: Jul 2020
Programs: Delta Gold Medallion, Hyatt Globalist, Hilton Diamond
Posts: 1,010
I think 2023 will have a ton of re-brandings and new developments. But for closures/sell-offs, probably only a few? Just my assumption from the pent-up demand in travel bookings. Who knows how long this will sustain