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Marriott hotel sign Yuriko Nakao/Getty Images

Six Must Reads for the CRE Industry Today (Feb. 18, 2021)

The Wall Street Journal looks at the candidates for the position of a new Marriott International CEO. New York State is about to reopen amusement parks and indoor entertainment centers at 25 percent capacity, reports CNBC. These are among today’s must reads from around the commercial real estate industry.

  1. Biden to Meet with Unions Pushing for Infrastructure Spending “President Biden is scheduled to meet in the White House on Wednesday with senior labor union leaders, and people familiar with the matter say they are hoping to win commitments for a massive federal investment in infrastructure as well as efforts to create jobs in clean tech and alternative energy.” (Wall Street Journal)
  2. Marriott’s Next CEO Likely to Come from Inside “Marriott International Inc. suffered another blow when Arne Sorenson, its chief executive, died from cancer on Monday, but analysts expect the hotel company under new leadership to still manage a gradual recovery from the pandemic’s effect on business. That continuity reflects industry expectations that the next CEO will be chosen from one of two Marriott executives currently leading the company’s day-to-day operations.” (Wall Street Journal)
  3. State AG Sues Amazon Over Alleged Unsafe Working Conditions at NYC Sites During Pandemic “State Attorney General Letitia James is suing Amazon over allegations the company failed to provide adequate safety measures for its New York City employees during the COVID-19 pandemic and retaliated against whistleblowers who complained, according to a lawsuit filed Tuesday in Manhattan Supreme Court.” (Gothamist)
  4. Former Trump Casino Where Stars Played Goes Out with a Bang “A spot on the Atlantic City Boardwalk where movie stars, athletes and rock stars used to party — and a future president honed his instincts for bravado and hype — was reduced to a dusty pile of rubble on Wednesday. The former Trump Plaza casino was imploded after falling into such disrepair that chunks of the building began peeling off and crashing to the ground.” (Associated Press)
  5. New York’s Cuomo Says Amusement Parks, Camps Can Reopen This Summer as State Monitors COVID Variants “New York is forging ahead with reopening more businesses amid a post-holiday decline in Covid-19 cases, but the state’s keeping “one eye” on troublesome variants of the virus that could reverse its progress. Indoor family entertainment centers, like arcades, trampoline parks or laser tag facilities, will be allowed to reopen starting March 26 at 25% capacity with additional precautions, like social distancing, mask wearing and frequent cleaning, Gov. Andrew Cuomo said on Wednesday.” (CNBC)
  6. Swiss Chocolatier to Assume Leases of 34 U.S. Godiva Stores “The family-owned, Switzerland-based company has signed an asset purchase agreement allowing it to take over the leases of 34 Godiva locations across the United States. Läderach and Godiva agreed to not disclose any other conditions of the agreement. Läderach plans to announce the locations of the 34 stores, which are expected to open by the end of summer 2021, if not sooner.” (Chain Store Age)
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