April 2023
Feature Article
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Why More Hotels Have Not Filed Bankruptcy
No industry was harder hit by COVID-19 than tourism and travel. Turnaround and restructuring professionals might be tempted to connect the dots—thinking that an unprecedented demand shock would lead to an unprecedented rise in hotel bankruptcies. But before doing so, one must look at the unique nature of real estate finance to understand how the […]
More from this Issue
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No Strangers to Distress
This issue of the Journal of Corporate Renewal is focused on hotels and hospitality, including restaurants, none of which are newcomers to distress. The extreme headwinds of the past few years have left these businesses vulnerable, requiring the ability to remain nimble and strategic in the face of uncertainty. This month, we examine where we […] -
New Conferences and Longtime Favorites Keep TMA Vital and Vibrant
The diversity of opportunity through TMA cannot be overemphasized. Having kicked off the year with a record-breaking and defining Distressed Investing Conference, we now move into spring and the start of regional conference opportunities and inaugural programs that continue to keep our actionable organization vital and vibrant. This year, as in years past, our regional […] -
Making Connections: TMA Offers Abundant Opportunities to Drive Your Success
As I sat down to write my second JCR column as TMA Global President, I could not help but once again recall the extraordinary connectivity and camaraderie experienced by the nearly 1,000 attendees from around the world at last month’s record-breaking Distressed Investing Conference. After experiencing the COVID pandemic (now hopefully permanently behind us), I […] -
Why More Hotels Have Not Filed Bankruptcy
No industry was harder hit by COVID-19 than tourism and travel. Turnaround and restructuring professionals might be tempted to connect the dots—thinking that an unprecedented demand shock would lead to an unprecedented rise in hotel bankruptcies. But before doing so, one must look at the unique nature of real estate finance to understand how the […] -
Reservations for Restructuring: Headwinds Force Hotel Bankruptcies
The hospitality industry, particularly hotels, has been subject to significant headwinds since the onset of the pandemic in March 2020. Certain segments of the industry, mainly leisure properties, have recovered better than others. Hotel properties primarily reliant on business travel have generally suffered from continued poor performance. This poor performance, along with other factors, has […] -
Implications of the WFH Trend for Business Travel and Hospitality
Three years after its onset, the COVID-19 pandemic’s long-term implications for consumer behavior, commerce, and daily life are still not widely understood. While pandemic restrictions have largely receded and are no longer a direct factor in individual and business decision making, the period ranging from 2020 to 2022 gave rise to more subtle, longer-tailed behavioral […] -
Lessons for Travel and Hospitality Companies in a Post-Pandemic World
Travel and hospitality was one of the hardest-hit sectors during the pandemic. According to USTravel.org, in 2019, the total travel and tourism impact on the U.S. economy was$2.6 trillion and was responsible, directly and indirectly, for one in eight U.S. non-farm jobs. Of course, those numbers came crashing down in 2020 as the pandemic sent […] -
Contractual Agreements in the Canadian Hotel Industry: Managing the Competing Stakeholders in a Canadian Insolvency
During the COVID-19 pandemic, the Canadian hotel industry suffered tremendous financial stress. This stress was lessened by financial support for the hotel sector by the federal and provincial governments. With such financial support coming to an end, and the emergence of supply challenges, higher interest rates, and rising costs due to inflation, the hotel industry […] -
Inflation’s Toll on the Outlook for Restaurants
“I think we now understand better how little we understand about inflation.” -Federal Reserve Chair Jerome Powell, July 29, 2022 Even the chair of the Federal Reserve had to admit that inflation is a ferocious animal. He was on a rate hike mission for all of 2022 and is only now getting a sense if […] -
Newcomers: April 2023
Alabama Nicole Montrone, NR Business Credit Arizona Brett Angner, Everyday Investments Realty Kelley Gastineau, B. Riley Advisory Services Stephen Silverstein, POM Corporation Matthew Sturcken, Sandor Development Co. Atlanta James Bardenwerper, Configure Partners LLC Gary Barnes, Baker Donelson Bearman Caldwell & Berkowitz PC Angela Castillo Zuleta, FTI Consulting David Ellington, Cadence Business Finance Katy Furr, Baker Donelson Bearman Caldwell & Berkowitz PC […]