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Abstract: 

The hospitality industry was hard hit by the onset of the pandemic, and many hotels, especially hotels and convention centers dependent on business travel, continue to struggle to find a footing amidst the “two steps forward, one step back” recovery. This panel discusses the industry’s progression through the evolving pandemic—from stay-at-home orders and mandated closures to reopenings overwhelmed by an influx of quarantine-weary travelers navigating ever-changing COVID protocols—all while the industry is struggling to manage an embattled supply chain and staffing shortages. The panelists evaluate the performance of, and outlook for, bonds used to finance these projects, strategies for addressing defaults, and industry trends and projections. They consider what surprises we have faced and what lessons we have learned that will enable the industry to better respond to the next crisis.

Keywords: Hospitality industry, COVID pandemic, business hotels and resorts, hospitality bonds and finances, credit profile

Affiliations:  1: Mintz Levin; 2: Nuveen Asset Management; 3: FTI Consulting; 4: Imprint Hospitality.