Significant changes are afoot in hotel ownership and management, according to asset managers in the segment.
A survey of the Hospitality Asset Managers Association reveals almost a third are considering brand or management changes as part of their recovery plans, with half planning to change both.
Worryingly, 15% say they are expecting to hand their keys back to lenders and almost 10% say they already have.
The Spring 2021 Industry outlook also notes that half of HAMA members, who are involved in management, financing, acquisition and disposal of properties, believe 2019 revpar levels will return by 2023.
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