- Stumbling Hotel Industry Starts to Regain Footing After its Lost Year “The badly battered lodging business is stirring to life, roused by hotel owners and investors betting that bookings will pick up when Covid-19 vaccines become widespread and more Americans itch to travel again. The past year was by many measures the industry’s worst, marked by employee furloughs, plummeting occupancy rates and the evaporation of most business travel. But this year has already offered glimmers of hope. Hotel share prices are rising, scores of properties are reopening and lodging companies are hiring again.” (Wall Street Journal)
- Eviction Filings Increased After CDC Issued Nationwide Moratorium, Government Report Shows “A widespread lack of awareness about the federal ban on evictions is likely limiting renters’ ability to take advantage of it, according to a new government report. The Government Accountability Office (GAO), in a report released Monday, examined the effects of eviction moratoriums throughout the COVID-19 pandemic, based on local eviction data collected by the Federal Reserve Bank of Cleveland. In particular, the report compared the effectiveness of the federal eviction moratorium included in the CARES Act last spring to the moratorium issued by the U.S. Centers for Disease Control and Prevention in September.” (MarketWatch)
- Stonemont, Cerberus Form $1B Industrial JV “Capitalizing on booming e-commerce activity, leading industrial developer and real estate investor Stonemont Financial Group has formed a joint venture with an affiliate of Cerberus Capital Management LP for the purpose of acquiring large-scale logistics properties in the U.S. Stonemont will work side-by-side with the alternative investment firm to amass $1 billion in mission-critical industrial real estate.” (Commercial Property Executive)
- What IBM Can Teach the Industry About Diversity “Expanding diversity equity & inclusion within work environments and across organizations was a focus for the first day of CoreNet Global’s Corporate Real Estate Week 2021. During a panel titled “DE&I: The Role of CRE, Design & Organizational Planning,” attendees got an in-depth look into how IBM’s inclusive philosophy translates into real estate and design strategies, and they received a number of recommendations for their own practices. Jeri Ballard, executive vice president, Real Estate, Business Service Centres and Corporate Travel at Shell Oil, moderated the discussion.” (Commercial Property Executive)
- The Arts Are Coming Back This Summer: Just Step Outside “The path back for performing arts in America is winding through a parking lot in Los Angeles, a Formula 1 racetrack in Texas, and Shakespeare’s summer home in New York’s Central Park. As the coronavirus pandemic slowly loosens its grip, theaters, orchestras and opera companies across the country are heading outdoors, grabbing whatever space they can find as they desperately seek a way back to the stage.” (The New York Times)
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