Want to own an apartment building? Buy a distressed hotel for pennies on the dollar

Posted by & filed under Part 1 Business in a Global Environment, Part 3 Management: Empowering People to Achieve Business Objectives, Part 4: Marketing Management, Part 6 Managing Financial Resources.

Description: Communities are desperate for more affordable housing, but the cost for developers is just too high. Land, labor and materials were pricey before the coronavirus pandemic, and they are even more so now.

Source: CNBC.com – video report

Date: Feb 04, 2021

Link: https://www.cnbc.com/2021/02/04/want-to-own-an-apartment-building-buy-a-distressed-hotel-cheap.html

Questions for discussion:

  • How has the pandemic affected the hotel industry?
  • Is the transition of purpose of these properties a “good thing”, in your opinion?
  • What might this transition mean for the hotel industry when the pandemic passes and travellers return looking for hotel rooms?

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