real estate – Guide Global http://guideglobal.com/ Sat, 16 Apr 2022 01:23:48 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://guideglobal.com/wp-content/uploads/2021/05/default1.png real estate – Guide Global http://guideglobal.com/ 32 32 The pumped gas should not block the LBI summer https://guideglobal.com/the-pumped-gas-should-not-block-the-lbi-summer/ Thu, 17 Mar 2022 00:56:12 +0000 https://guideglobal.com/the-pumped-gas-should-not-block-the-lbi-summer/ (Photo taken by Jack Reynolds) Business people wondering how rising gas prices will affect summer tourism can be encouraged by those who say LBI’s ease of access is a plus in attracting people here. The perspective of Lori Pepenella, CEO of the Southern Ocean County Chamber of Commerce, comes from past experience in 2008, when […]]]>

(Photo taken by Jack Reynolds)

Business people wondering how rising gas prices will affect summer tourism can be encouraged by those who say LBI’s ease of access is a plus in attracting people here.

The perspective of Lori Pepenella, CEO of the Southern Ocean County Chamber of Commerce, comes from past experience in 2008, when gas prices approached $5 a gallon. The people of New Jersey still needed a summer.

“When I joined the chamber, I remember being very upset that gasoline was about to hit $5 a gallon and people could jump on planes to go somewhere else. ‘was a lot cheaper,” Pepenella told The SandPaper’s question. “That situation seems very different to me. Our way of working is so much different now than it was before the pandemic. We already have people who are here.

And those interested in LBI are not far behind. “We are within reach of such a large population within an hour and a half of major cities that it will always be economically viable,” Pepenella pointed out. “In the summer there are a lot of weddings and special events that people are committing to, vacation rentals that involve multiple family members, so that’s where they’re going to get together, so it there’s dedication,” she noted.

“I don’t think it will affect weekly rentals; I think it will improve it,” predicts Duane Watlington, whose site vrlbi.com (Vacation Rentals LBI) markets vacation homes for homeowners and real estate brokers.

As people see gasoline prices rise, they may want to stay even closer to home, observers say.

A recent trend of “staycation” is still in play, Watlington sees.

“The majority of our rentals come from New Jersey and New York, less than three hours away. How much does that gas cost compare to “put the kids on a plane and fly”? It’s going to be expensive…we have beautiful beaches here.

Gasoline price hikes come today at the same time the shoreline is an escape to fresh air in what Watlington called “our third COVID bump” year.

Reservations have come earlier since the pandemic, he said. Regarding bookings made months ago, “I still think the Omicron variant has scared a lot of people off again on vacation close to home,” he said. “And the scarcity of rentals over the past two summers has prompted many people to plan early.

“Bookings are already very strong and ahead of schedule. For the 10 weeks of summer, we have about 8% of our rentals left. Some weeks availability is less than 2%.”

To be clear, many choices are still open, depending on the week. The most available weeks remaining are June 25, when 18% of the choices are still open, and August 27, with 32% available.

When a spring weekend heats up, it gives businesses a “sneak peek” to gauge interest.

“He warmed up to 10 degrees, and that’s all it took to get in the car and do a lap,” Pepenella said. “Gasoline prices are high, but so is the value of your destination. The trends we’re seeing may show even longer stays, especially among second homeowners.

Another factor in favor of travelers is the better fuel efficiency of cars than in 2008.

“We are optimistic but still cautious,” summed up the CEO of the chamber. “We want to make sure that everyone, when they come down, feels the experience here is good and worth the trip, and we know that we always meet and exceed those expectations. So we have a good base to start with.

Watlington said traffic to the VRLBI website was steady.

“I’ve lived here all my life; shore is always an option, especially for a weekly charter. There might not be as many day trips, which would affect us more if we were a community like Belmar.

Typical owners of a second home on LBI, while eager to use the home themselves, split some of their weeks to pay for expenses, Watlington said.

“Then there are the real investors, who will buy a house, tear it down, build a new house and rent it out, or buy a duplex that they can just rent out, and not use it.”

Prices for VRLBI rental properties vary. There are 60 ads that cost less than $2,000 a week, and there are three that cost $50,000 or more. Another is listed at $45,000, and there are seven in the $30,000 range. The average cost is between $5,000 and $10,000 per week.

“Prices are up, especially for beachfronts and especially for homes with pools,” Watlington said.

High-end rentals are “mostly full,” he said, but some weeks are open. “There is a smaller audience for these properties.” The $55,000-per-week rental “is fully booked from May 21 through September 10.” A $45,000 beachfront with pool in North Beach is already booked from July 1 through September 6.

— Maria Scandal

mariascandale@thesandpaper.net

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Short-term rentals can be ideal for private equity looking for a new asset class https://guideglobal.com/short-term-rentals-can-be-ideal-for-private-equity-looking-for-a-new-asset-class/ Tue, 15 Mar 2022 06:01:17 +0000 https://guideglobal.com/short-term-rentals-can-be-ideal-for-private-equity-looking-for-a-new-asset-class/ Skift grip The smarter money seems to be warming up to the emerging asset class of short-term rentals and professionally managed vacation rentals. But it’s probably too early to expect a “STR REIT,” or short-term rental real estate investment trust, this year. Sean O’Neill Some of the biggest names in private equity firms, hedge funds […]]]>

Skift grip

The smarter money seems to be warming up to the emerging asset class of short-term rentals and professionally managed vacation rentals. But it’s probably too early to expect a “STR REIT,” or short-term rental real estate investment trust, this year.

Sean O’Neill

Some of the biggest names in private equity firms, hedge funds and alternative asset management are seeking investments in short-term rentals and vacation rentals as new assets to diversify their portfolios.

Experienced and well capitalized investors such as Blackstone Group, Davidson Kempner Capital Managementand Harrison Street wants to build exposure to alternative accommodation, according to people with knowledge of their research.

While commercial real estate companies have entered into transactions involving short-term rentals for years, traditional institutional investors have not.

Institutional investors are working to create funds that invest in debt backed by managed properties like short-term rentals, vacation rentals, or related housing.

The next step will be to build instruments that echo real estate investment trusts (REITs) that specialize in short-term rentals and vacation rentals. But setting up a fund could take a year or two.

Two insiders said that hotel REITs would themselves see the short-term sector as a complementary asset class.

This news comes as no surprise to some of the branded property management companies in the travel segment.

“Private equity firms, hedge funds and others are definitely jumping into the space,” said Jason Fudin, CEO and Founder of WhyHotelwhich offers high-end apartments to travelers for varying durations.

Sector “Sleep away from home”

One of the headwinds for institutional investors has been ensuring that the underlying real estate assets are of high enough quality to weather the downturn. It’s been difficult for property managers to step up the process of persuading high-end homeowners to rent to travelers with high availability. High-end properties may have a larger margin cushion to withstand a cyclical downturn.

Private equity firm Alpine’s Monday acquisition of short-term rental data firm AirDNA was a small but apt sign of the industry’s growing recognition.

AirDNA’s private equity acquisition this week follows news in February that BeforeStaya short-term rental operator, had closed a 500 million dollars round table to create a company holding its real estate assets, with Saluda qualitya real estate advisory and asset management firm, which backs the fund.

Andes STR, a property manager for short-term rentals, recently began working with Chilean investment firm WEG Capital to buy U.S. units, the The Wall Street Journal reported.

Last month, private equity firm Durable Capital Partners led a $100 million fundraising round for To evolvea vacation rental property management service.

Private equity has already dabbled in vacation rentals

Certainly, at the height of the pandemic, private equity giants Silver Lake and Sixth Street Partners bet $1 billion on Airbnb. But it was a short-term bet on Airbnb’s hiccups ahead of a potential initial public offering rather than a long-term bet on short-term rentals as an asset class.

Before the pandemic, Bain Capital, KKR, Blackstone and CVC were outbid by Platinum Equity for Wyndham’s vacation rental portfolio in Europe in a $1.3 billion deal.

Among the companies that are still private, those with rapid growth Sykes Holiday Cottages UK-based is backed by a private equity firm Vitruvian Partners.

One factor that improves the visibility of institutional investors in the sector is the professionalization of data analysis services, the benchmark figures of which could help institutions underwrite debt-based transactions.

So far, only small investors and residential and commercial real estate moguls have used analytics services such as AirDNA, Transparent (just acquired by OTA Insight), All bedrooms, Airbtics, Key dataand MashvisorComment.

Other ways for institutional investors to play the category

It can be difficult for private equity funds to play in the property management market. Funds tend to last only about a decade before being disbanded. This might not leave much time for the funds to benefit from long-term appreciation in property management fees and property appreciation.

Some are instead looking for other ways to be exposed to the perceived benefits of alternative housing.

In recent months, institutional investors have expressed their initial confidence in the sector by investing in the shares of companies aiming to rise by professionally managing inventory.

Vacasa, a manager of branded vacation rental properties, is a notable holding of private equity firms Level Equity and TPG Capital. Other institutional investors, such as PAR Capital Management and Guggenheim Partners, also took low single-digit percentages of Vacasa’s outstanding common stock.

Sonder, a professional manager of licensed rental or hotel apartments, has so far been less attractive to institutional investors. At the end of December, Blackrock held 189,769 shares, a modest stake of $900,000, according to financial filings.

Looking outside of North America and Europe could also reveal some of the biggest opportunities. For more context, Skift Research subscribers can read this month’s report: Short-Term Rentals: Focus on Asia-Pacific.

Overall, institutional interest in short-term rentals is still in its infancy. Other large, seasoned investors, such as pension funds, endowments and sovereign wealth funds, have yet to join the category.

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Ashford Hospitality Trust (NYSE:AHT) rating downgraded to strong sell at Zacks Investment Research https://guideglobal.com/ashford-hospitality-trust-nyseaht-rating-downgraded-to-strong-sell-at-zacks-investment-research/ Sat, 12 Mar 2022 20:58:14 +0000 https://guideglobal.com/ashford-hospitality-trust-nyseaht-rating-downgraded-to-strong-sell-at-zacks-investment-research/ Ashford Hospitality Trust (NYSE: AHT – Get a rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report released on Friday, Zacks.com reports. According to Zacks, “Ashford Hospitality Trust Inc is a Maryland self-administered corporation and real estate investment trust organized to pursue opportunities in […]]]>

Ashford Hospitality Trust (NYSE: AHT – Get a rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report released on Friday, Zacks.com reports.

According to Zacks, “Ashford Hospitality Trust Inc is a Maryland self-administered corporation and real estate investment trust organized to pursue opportunities in the hospitality industry. The initial assets consist of six hotels comprising four Embassy Suites and two properties Radisson as well as eight management assets and advisory contracts.”

Separately, B. Riley cut his price target on Ashford Hospitality Trust from $17.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday.

Shares of NYSE:AHT traded down $0.31 during Friday’s midday session, hitting $8.25. The stock had a trading volume of 56,434 shares, compared to an average volume of 1,253,837. The company has a current ratio of 5.72, a quick ratio of 5.72 and a debt ratio of 67, 56. The company has a market capitalization of $284.57 million, a P/E ratio of -0.44 and a beta of 2.03. Ashford Hospitality Trust has a 1 year minimum of $6.56 and a 1 year maximum of $77.90. The company’s 50-day moving average price is $8.93 and its 200-day moving average price is $11.69.

(A d)

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Ashford Hospitality Trust (NYSE: AHT – Get a rating) last released its quarterly earnings data on Tuesday, February 22. The real estate investment trust reported ($1.75) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($1.95) by $0.20. During the same period of the previous year, the company achieved EPS ($16.70). Analysts expect Ashford Hospitality Trust to post earnings per share of 1.82 for the current financial year.

A number of institutional investors have recently bought and sold shares of the company. Varde Management LP acquired a new stake in Ashford Hospitality Trust during Q4 valued at approximately $23,367,000. State Street Corp increased its position in Ashford Hospitality Trust by 3,669.6% during the second quarter. State Street Corp now owns 1,922,506 shares of the real estate investment trust worth $8,767,000 after purchasing an additional 1,871,506 shares during the period. Charles Schwab Investment Management Inc. increased its position in Ashford Hospitality Trust by 4,614.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 944,147 shares of the real estate investment trust worth $4,306,000 after purchasing an additional 924,120 shares during the period. Northern Trust Corp increased its position in Ashford Hospitality Trust by 551.0% during the second quarter. Northern Trust Corp now owns 1,083,882 shares of the real estate investment trust worth $4,943,000 after purchasing an additional 917,382 shares during the period. Finally, Nuveen Asset Management LLC acquired a new stake in Ashford Hospitality Trust during the 2nd quarter with a value of approximately $2,132,000. Institutional investors hold 29.64% of the company’s shares.

About Ashford Hospitality Trust (Get a rating)

Ashford Hospitality Trust, Inc is a real estate investment trust that invests in the hospitality industry. The Company’s investments include direct hotel investments, mezzanine financings through origination or acquisition, first mortgage financings through origination or acquisition, sale-leaseback transactions and other hotel transactions. .

See also

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Delaware’s hospitality industry sees beach boom as business travel returns https://guideglobal.com/delawares-hospitality-industry-sees-beach-boom-as-business-travel-returns/ Sat, 12 Mar 2022 03:01:36 +0000 https://guideglobal.com/delawares-hospitality-industry-sees-beach-boom-as-business-travel-returns/ Panelists, from left: Rob Buccini – Buccini Pollin Group; Jay White, Moderator, Apex Realty; Dinaker Maylla, HVS Consulting; Drew DiFonzo, TKO Hospitality; Bill Silva, Westin; Bill Sullivan, UD Hospitality and UD Courtyard Hotel. Delaware’s hospitality industry has been a study in contrasts over the past year. While northern Delaware saw a continued decline in business […]]]>

Panelists, from left: Rob Buccini – Buccini Pollin Group; Jay White, Moderator, Apex Realty; Dinaker Maylla, HVS Consulting; Drew DiFonzo, TKO Hospitality; Bill Silva, Westin; Bill Sullivan, UD Hospitality and UD Courtyard Hotel.

Delaware’s hospitality industry has been a study in contrasts over the past year.

While northern Delaware saw a continued decline in business travel and meetings Monday through Thursday, there were boom conditions at the beach.

That was one of the takeaways from a discussion about the hospitality industry at this week’s meeting of the Delaware Commercial and Industrial Real Estate Council. (IARC).

Dinaker Maylla of hospitality industry consultancy, HVS Consulting, said the industry continues to recover from a disastrous 2020 and the ups and downs caused by the pandemic in 2021.

Robert Buccini, co-chairman of hotel developer Buccini/Pollin Group, said the industry had “fallen off the cliff” for a while in 2020 when most business and personal travel came to a standstill. Another drop in business came recently when indoor masking was ordered after hospitals across the state struggled with more than 700 Covid patients. The mandate ended as the number of hospital stays and new cases fell.

William Sullivan, general manager of Courtyard By Marriott University of Delaware, said weekend leisure and wedding activities are back, but the Monday-Thursday business travel market is not. In 2021, a marriage boom has occurred, with the possibility of a brief downturn in 2022.

A big question mark is when business travel will return to normal levels, given the growing number of people now using video conferencing and other technologies.

The business market remains depressed in Wilmington, according to Buccini and Bill Silva, general manager of the Westin on the Wilmington waterfront

Wilmington sees the return of legal cases, with the Delaware Chancellery and other courts returning to in-person hearings and trials.

Maylla and Drew DiFonzo of Delaware hotel owner and developer TKO Hospitality said the Delaware beach market had a slow 2020 as visitors returned but paid discounted rates. The market took off in 2021, with business ahead of a record 2019 as room rates rose.

Kent County has experienced an absence of new hotel construction. Ground is set to break this month for a new hotel in Frederica south of Dover and close to the DE Turf outdoor grounds complex. DE Turf attracts traveling youth sports tournaments on weekends, with few rooms available in the immediate area.

Up north, Wilmington was able to host a women’s varsity basketball tournament this month that helped fill venues at a slow time of year. The Biden presidency and its bimonthly President and First Lady at their home near Greenville are filling Wilmington halls with media, staff and security guards.

Still, the industry faces more than a few challenges as the economy recovers.

Buccini said the industry had learned lessons from the pandemic, an example working with leaner staff. Sullivan noted that daily room cleaning for those staying more than one night is less common.

Other challenges include inflation driving up food costs at full-service hotels that can rise by double digits overnight, Buccini noted.

The labor shortage remains a permanent headache, according to the panelists.

A location with its pros and cons comes with younger guests looking for everything from a small budget room to a memorable experience and unique amenities

This has led to a growth in “boutique hotels” which will include a small property opening this summer in downtown Wilmington.

The hotel will include an upscale steakhouse and possibly a rooftop bar.

A sore point for the industry is what is seen as a lack of fairness when it comes to the tourist tax, panelists noted.

To date, app-based owners of Aairbnbs and Vrbo properties do not pay the tax, even though many of their properties essentially operate as unregulated hotels.

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Closing of acquisition of cryptocurrency exchange VAYK planned https://guideglobal.com/closing-of-acquisition-of-cryptocurrency-exchange-vayk-planned/ Fri, 11 Mar 2022 13:54:11 +0000 https://guideglobal.com/closing-of-acquisition-of-cryptocurrency-exchange-vayk-planned/ Dallas, Texas, March 11, 2022 (GLOBE NEWSWIRE) — Vaycaychella, Inc. (OTC Pink: VAYK) today confirmed that the company has planned to complete the acquisition of Definancial, Inc., a technology company that has developed a proprietary cryptocurrency exchange technology solution, today, Friday, March 11, 2022. “The terms are settled and all that remains is to complete […]]]>

Dallas, Texas, March 11, 2022 (GLOBE NEWSWIRE) — Vaycaychella, Inc. (OTC Pink: VAYK) today confirmed that the company has planned to complete the acquisition of Definancial, Inc., a technology company that has developed a proprietary cryptocurrency exchange technology solution, today, Friday, March 11, 2022.

“The terms are settled and all that remains is to complete the review of the closing documents and execute them,” said Bill Justice, CEO of VAYK. “Look for a quick announcement once the documents are executed.”

VAYK has already launched a Award-winning alternative Peer-To-Peer (P2P) financing application for individuals and SME operators to find financing for the purchase of short-term vacation rental properties.

VAYK is a start-up company developing a portfolio of technology solutions to further democratize participation in the tourism market, providing more opportunities for individuals and small and medium-sized enterprises (SMEs).

VAYK plans to release a new version of the P2P alternative finance app soon and integrate the new version with the ability for individuals and SME operators to launch and list cryptocurrencies where proceeds from crypto sales -currency is used to finance the purchase of a short-term vacation rental. properties and fund other short-term vacation rental business start-up expenses. Cryptocurrency holders will have a repayable economic interest in the short-term vacation rental industry.

The acquisition of Definancial, Inc. is specifically intended to support VAYK’s cryptocurrency strategy with the addition of a cryptocurrency exchange where short-term vacation rental business cryptocurrencies can be listed .

VAYK is developing and expanding its portfolio of technology solutions to further democratize participation in the tourism industry based on its hands-on experience with an initial and ongoing pilot project consisting of ten beach houses and a small boutique hotel in Cuba where VAYK provided financing for small businesses to acquire and renovate real estate.

The company recently deployed a team to Cuba for a three-week trip focused on securing the next ten beach properties it will renovate and launch as short-term vacation rental properties. These next ten properties will be listed on VAYK’s P2P alternative finance app version 2.0 and participation in the short-term vacation rental business operating the ten properties will be offered through the introduction of a crypto- change.

The main purpose of the ten property expansion is to demonstrate VAYK’s P2P Alt Finance APP V 2.0 and Cryptocurrency technology.

VAYK recently published a comprehensive study Presentation of the 2022 strategic overview with more details on how the ten-property expansion and cryptocurrency acquisition fits into the company’s overall strategy.

VAYK also confirms today that it continues to work with Alternet System’s Inc. (OTC Pink: ALYI) to develop the opportunity to expand ALYI’s initiative to establish a Formula E race in Nairobi to include the possibility of brining a Formula E race in Havana. ALYI and VAYK plan to release a joint update soon with Waterpure International, Inc. (OTC Pink: WPUR) also working with ALYI on the Formula E racing program.

To learn more and follow the latest Vaycaychella updates, and to access the Vaycaychella app, visit https://www.vaycaychella.com/.

Disclaimer/Safe Harbor: This press release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. Statements reflect the Company’s current beliefs regarding future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, failure to meet deadlines or performance requirements of the companies’ contracts, the companies’ liquidity condition, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive prices. In light of these uncertainties, the forward-looking events discussed in this press release may not occur.

WSGF contact:
William “Bill” Justice
bill@vaycaychella.com
(800) 871-0376

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7 stock picks as inflation soars https://guideglobal.com/7-stock-picks-as-inflation-soars/ Thu, 10 Mar 2022 14:37:30 +0000 https://guideglobal.com/7-stock-picks-as-inflation-soars/ Get the Insider app A personalized feed, digest mode, and ad-free experience. Download the app close icon Two crossed lines that form an ‘X’. It indicates a way to close an interaction or dismiss a notification. Inflation just hit a 40-year high, with the consumer price index rising 7.9% in February. Kevin Kelly says investors […]]]>

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  • Inflation just hit a 40-year high, with the consumer price index rising 7.9% in February.
  • Kevin Kelly says investors view real estate as a hedge against inflation.
  • ETF chief Kelly shared 7 stocks and REITs that can withstand inflation due to short-term leases.

Inflation soared to 7.9% in February, its highest level in four decades, according to the latest Consumer Price Index report.

And there could be more pain to come after US President Joe Biden banned imports of Russian oil and gas following Vladimir Putin’s invasion of Ukraine – and warned that Americans would feel the ‘rise Putin prices” at the gas pumps over the next few months.

This leaves investors struggling with how to deal with sustained price increases. Some will buy pricing stocks, others will look to safe-haven assets like gold, while a few will invest in cryptocurrencies like bitcoin.

For Kevin Kelly, there is another asset class that retail investors tend to overlook when trying to hedge their portfolios against inflation: real estate.

“Real estate is one of the most underrated inflation hedges we have today,” said Kelly, who recently launched two ETFs that trade on the New York Stock Exchange under the symbols HOTL and RESI, to Insider in a recent interview. “Institutional investors are pouring in tons of money, but the average investor doesn’t appreciate the role it can play in their portfolio.”

“These are long-term games that will really benefit a portfolio five years from now,” he said.

Kevin Kelly

Kevin Kelly manages real estate ETFs that track the hospitality and residential housing sectors.

Kelly ETFs


Hotels and accommodation

Kelly ETFs’ two real estate funds track the hospitality and residential housing sectors. Kelly said both industries can adjust to higher inflation because their short-term leases give them significant pricing power.

“Apartments and rentals are one-year leases, and hotels are one-night leases, giving them the best pricing power of any real estate,” he said. “They can reprice in the short term, which makes it an incredible inflation hedge.”

Kelly added that the hospitality sector is also benefiting from the reopening rally, after a temporary shutdown sparked by fears of the Omicron variant.

“We see the hotel space performing very well, especially given the Omicron variant,” he said. “Our largest companies have performed exceptionally well during the earnings season.”

Kelly shared four real estate stocks to buy to hedge a portfolio against inflation — as well as three REITs, or real estate investment trusts, which are companies that finance and operate income-generating properties. Individual investors can buy individual shares of REITs on the stock exchange, making them more liquid than traditional real estate investments.

Insider breaks down Kelly’s thoughts on the seven stocks and REITs to buy as an inflation hedge over the next few years below. Each of them belongs to either the HOTL or the RESI ETF.

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New brands, investors target hostels and backpacker accommodation https://guideglobal.com/new-brands-investors-target-hostels-and-backpacker-accommodation/ Wed, 09 Mar 2022 07:16:00 +0000 https://guideglobal.com/new-brands-investors-target-hostels-and-backpacker-accommodation/ Gadi Hassin, Selina’s director for Southeast Asia, Australia and New Zealand, said the group plans to list on the New York Stock Exchange by the end of June and is exploiting what he saw as a product gap between hostels and three-stars. hotels. “We are looking to grow significantly in Australia – our plans are […]]]>

Gadi Hassin, Selina’s director for Southeast Asia, Australia and New Zealand, said the group plans to list on the New York Stock Exchange by the end of June and is exploiting what he saw as a product gap between hostels and three-stars. hotels.

“We are looking to grow significantly in Australia – our plans are very ambitious,” Mr Hassin said.

Selina’s three initial properties were previously leased by the Tourism Adventure Group, which went into administration last June.

TAG has been restructured with the support of creditors and continues to trade with a reduced portfolio of 15 properties under the Base, Nomads and United Hostel brands.

Mr. Hassin said Selina, which said it has secured a network of 134 properties in North America, South America and Europe, was looking for local financial partners, either as owners or as investors with property renovations typically costing $10,000 per bed.

He said the Selina properties were not hostels but “hybrid hotels” offering a mix of accommodation, including shared rooms, and common areas, including coworking spaces for the growing number of travelers. digital nomads.

Another emerging player is Drifter Hospitality Group, currently in the midst of a fundraising round led by investment bank Barrenjoey with an initial target of $75 million in equity to finance the purchase of Haka Tourism Group and its six backpacker lodges in New Zealand.

But it is understood the target has been raised to $200m, with a closing expected within two months, following an enthusiastic response from institutional investors and a host of potential buying opportunities.

Intrepid Travel has already taken an equity stake and accommodation industry insiders say negotiations over the deals in Australia and New Zealand are well advanced.

According to the model, Barrenjoey would manage the fund, owning both the real estate operations and the inn. Haka owner Ryan Sanders will serve as general manager.

Meanwhile, there have been major changes at industry leader YHA Australia, which has divested five of its hostels in the past two years, raising $33 million, which it is reinvesting into its existing portfolio of 39 properties across the country.

“During 2020 and 2021, we have reduced the size of the portfolio to get it in the right shape and also allow us to trade financially,” chief executive Paul McGrath said.

“Obviously with 70% of holidaymakers working in the market or backpackers, those were pretty tough years.”

He said YHA Australia is refocusing the business and, like Selina, targeting digital nomads, refreshing its product with a greater emphasis on food and drink quality.

There are also plans to introduce coworking spaces, starting with an ongoing pilot project at its Byron Bay property.

“We believe there is a need in regional areas for low-cost coworking space for our market,” McGrath said.

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World Bank approves additional $489 million support package for Ukraine https://guideglobal.com/world-bank-approves-additional-489-million-support-package-for-ukraine/ Tue, 08 Mar 2022 02:14:28 +0000 https://guideglobal.com/world-bank-approves-additional-489-million-support-package-for-ukraine/ RIYADH: Women are increasingly making a name for themselves on corporate boards across the Arab world as reforms and empowerment initiatives offer new opportunities. Their future successes will be built on the work of the pioneering Arab women who laid the foundations for the next generation of female entrepreneurs in the region. Here we profile […]]]>

RIYADH: Women are increasingly making a name for themselves on corporate boards across the Arab world as reforms and empowerment initiatives offer new opportunities. Their future successes will be built on the work of the pioneering Arab women who laid the foundations for the next generation of female entrepreneurs in the region. Here we profile nine of them.


Sarah Al Suhaimi
Chairman of the Saudi Arabian Stock Exchange
SAUDI ARABIA

Al-Suhaimi has been the head of the Saudi Arabian Stock Exchange, also known as Tadawul, since February 2017. The first Saudi woman to hold the position at the Middle East’s largest stock exchange, she was reappointed Chairman of the Board of Directors in 2020.

Additionally, she has been the CEO and board member of National Commercial Bank since March 2014. In April 2021, NBC merged with banking company Samba and was renamed Saudi National Bank.

Al-Suhaimi served as vice-chairman of the Capital Market Authority’s board advisory committee between 2013 and 2015, and before that, chief investment officer at Jadwa Investment.

She was named one of Bloomberg Businessweek’s “50 People to Watch” in 2017.


Randa Mohamed Sadik
Arab Bank CEO
JORDAN

Arab Bank, one of the largest financial institutions in the Middle East, was the first private sector company of its kind in the Arab world when it was founded in 1930 in Jerusalem, Mandatory Palestine. Its headquarters are now in Amman, Jordan, and it has more than 600 branches on five continents.

Sadik, a Jordanian national, served for more than 10 years as deputy managing director of Arab Bank before becoming managing director last year.

Previously, she worked at the National Bank of Kuwait for 24 years, including as Group Managing Director of the International Banking Group.


Areej Mohsin Haider Darwish
President of the Automotive, Construction, Equipment and Renewable Energies cluster of Mohsin Haider Darwish
OMAN

Mohsin Haider Darwish, a renowned and leading business house in the Middle East, has earned a spot on Forbes 2020 list of Top 100 Arab Family Businesses in the Middle East. He has a diverse business presence, with a variety of interests in trade, contracts and projects. He has brought a number of international brands to Oman including Land Rover, Jaguar, McLaren, Volvo, MG, Ford, Ashok Leyland, Huawei, Hitachi, KDK and DAIKIN.

Darwish graduated from Sultan Qaboos University with a bachelor’s degree in computer science. His career began with a position at Petroleum Development Oman. She joined MHD, the family business, in 1994 and with the guidance, support and motivation of her father, she rose through the ranks to become President of its Automotive, Construction, Equipment and Renewable Energy operations cluster.



Sheikha Hanadi Nasser Bin Khaled Al-Thani
Founder of Amwal and Al-Waab City
QATAR

Sheikha Hanadi started her career as an assistant lecturer in economics at Qatar University. In 1998, she founded the Qatar Ladies Investment Company, known as Amwal, the first investment company to be licensed by the Central Bank of Qatar to conduct investment banking and investment management activities. assets and wealth in the country.

In 2005, she founded Al-Waab City, an urban community development comprising over 1.2 million square meters of mixed-use amenities. She is also the founding president of the car dealership Q-Auto.

Sheikha Hanadi is the president of the education and training organization INJAZ Qatar and a board member of INJAZ Al-Arab. She is a member of the board of directors of Planet Finance for the Middle East and of the advisory board of the Legatum Center for Development and Entrepreneurship at the Massachusetts Institute of Technology.

She has been on Arabian Business magazine’s list of most influential Arabs for several consecutive years and was named a Young Global Leader by the World Economic Forum in 2005.



Raja Easa Al-Gurg
Group Managing Director and Easa Group Vice President Saleh Al-Gurg
United Arab Emirates

Known for her leadership of the family business, a conglomerate of more than 20 companies in a number of sectors including retail, construction, industry and real estate, Al-Gurg is also a CEO. business in its own right, carving out a niche through it. support for Arab women entrepreneurs. She is the President of the Dubai Business Women Council and a board member of the Dubai Chamber of Commerce and Industry.

She is Vice-Chairman of the National Bank of Fujairah, sits on the advisory board of Coutts Bank, the wealth management division of the Royal Bank of Scotland Group, and on the board of the Mohammed bin Rashid Al- Maktum. Global initiatives.

In 2020, Al-Gurg received the Legion of Honor, Chevalier, from French President Emmanuel Macron, for strengthening ties between France and the United Arab Emirates.

She ranked first on Forbes’ 2020 list of 100 Powerful Businesswomen in the Middle East, second on its 2019 list of Women Running Family Businesses and 89th on its 2020 list of 100 Most Powerful Women. in the world.



Mona Zulficar
Founding Partner and Chairman of Zulficar and Partners and EFG Hermes
EGYPT

In addition to her position at leading Egyptian law firm Zulficar and Partners, Zulficar has served as chairwoman of financial services company EFG Hermes Holding since 2008 and chairwoman of the Egyptian Microfinance Federation since 2015.

A lawyer for more than 35 years, she specializes in major restructuring and project financing. International legal directories regularly rank her as an expert in the fields of banking, finance and mergers and acquisitions.

A defender of human rights and women’s rights since 1985, Zulficar has led several campaigns that have resulted in important legal reforms. She is currently working on a law on equal opportunities and non-discrimination.

She was an Expert Member of the Board of the Central Bank of Egypt (2003-2011); Deputy Chairman of the Constitutional Committee of the 2014 Constitution; Vice-Chair of the United Nations Human Rights Council Advisory Committee (2008-2013); president of the Association for the Improvement of Women’s Health in Cairo; and Chair of the World Bank’s External Gender Advisory Group in Washington DC (2000–2006).



Jalila Mezni
Co-founder and CEO of the Hygienic Articles Company
TUNISIA

Entrepreneur Mezni – co-founder and CEO of the Hygiene Goods Company, which makes diapers, tissues and other hygiene products – has weathered the storm of the Arab Spring over the past decade and has guided his business through the worst.

She founded SAH in 1995 after leaving her position as vice-president of a Tunisian bank. She saw an opportunity in the hygiene products industry and, at the suggestion of a colleague, applied for a government program that provided her with cheap land and tax breaks in a poor neighborhood outside from Tunis. His business was born.

SAH Group is now present in 21 African countries and employs 4,000 people in nine production sites.



Nezha Hayat
Chairman and CEO of the Moroccan Capital Market Authority
MOROCCO

Hayat has served as the CEO of Morocco’s Capital Market Authority since 2016. She is responsible for the country’s non-banking capital markets, including the stock exchange and brokerage firms. She is also Chair of the Africa/Middle East Regional Committee of the International Organization of Securities Commissions.

A defender of women’s rights, she is a founding member and president of the Club of Women Business Administrators, a non-profit organization that promotes good governance and diversity on the boards of directors of public and private companies.

Her career began in Spain, where from 1985 to 1988 she worked in the international division of Banco Atlantico, responsible for global risks and restructured debt.

In 1999, she was elected president of the Association of Stockbrokers of Morocco, for two terms. She co-founded the Association des Femmes Chefs d’Entreprises du Maroc, an association for women entrepreneurs, in 2000, and was named a Global Leader of Tomorrow by the World Economic Forum in 2001.



Mona Ataya
CEO and Founder of Mumzworld
PALESTINE

Ataya is the CEO of Mumzworld, a leading online store for baby products in the Middle East, which she founded in 2011. In 2014 and 2015, she was listed among the 100 Most Powerful Arab Women by Arabian Business.

While raising her three children, she spotted a gap in the market when she struggled to find support for mothers who needed advice and help with product purchasing decisions. for their children. She decided to make it her mission to empower mothers and make a difference in the community.

To develop her skills, she landed a job at Procter and Gamble working on leading soap brands and later at Johnson and Johnson managing a large portfolio of leading global brands including Neutrogena and Clean & Clear. Later, she became a co-founding member of the job search site Bayt.com.

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Will the hospitality industry follow SXSW demand this year? https://guideglobal.com/will-the-hospitality-industry-follow-sxsw-demand-this-year/ Fri, 04 Mar 2022 21:37:25 +0000 https://guideglobal.com/will-the-hospitality-industry-follow-sxsw-demand-this-year/ AUSTIN (KXAN) — South by Southwest is a week away from welcoming thousands to the city. The event draws thousands of people from around the world to Austin, but it’s a big test for the area’s hospitality industry, as many face staffing shortages. Austin executives recommend masks until after spring break, SXSW — here’s what […]]]>

AUSTIN (KXAN) — South by Southwest is a week away from welcoming thousands to the city.

The event draws thousands of people from around the world to Austin, but it’s a big test for the area’s hospitality industry, as many face staffing shortages.

“Bars and restaurants, businesses… We are all looking for people at the same time. It’s definitely a labor market. Bonding with the real estate market pun,” said Vijay Patel of the Austin Hotel Association.

From the airport to the rental car then to the hotel; it takes an army of workers to run Austin’s SXSW. Vijay Patel, who owns and manages more than a dozen hotels in the Austin area, says the good news is that labor shortages have improved, especially as Austin has ventured into stage 2 of the COVID-19 guidelines.

“Are we there with our labor supply, absolutely not. Will we realize? Absolutely,” Patel said.

Front desk staff and senior management seem to be the most difficult positions for Patel to hire at his hotels.

” We are going to do it. Will it be to our liking? I would say we’ll be about 90% there,” Patel said.

SXSW organizers are also competing to find volunteers for the event.

“Although we had a slow start, improving conditions have led to more volunteers being signed up over the past two weeks. SXSW’s Event Staffing & Resources team has been busy with creative recruitment, including including everything from social media posts to street crew,” an SXSW spokesperson said.

SXSW says that although many positions have been filled, they are still looking for crew to work as ambassadors, in sessions and for registration processes.

To become a volunteer, go to Volunteer.sxsw.com and click on the “Register” button. In as little as 10 minutes you can register and have a schedule to volunteer.

CapMetro encourages SXSW attendees to use the MetroRail system, as additional bus routes outside the normal schedule will not be provided during the festival.

“The agency is focused on providing the best possible bus service on our regular schedule and no additional bus operators have been scheduled to avoid disrupting our normal bus operations. We look forward to welcoming our SXSW customers back and will have additional resources available to support our customers,” said a CapMetro spokesperson.

“I think everyone is going to be overwhelmed. Uber, Lyft and my service,” said Tony Brown, owner of Fast Cab Austin.

The anticipation is high for Brown. As demand increases over the coming week, he says customers can expect surcharges.

“We will go up. Our rates are generally $2.50 per mile, but we are going to increase to $3.00. We need to increase, especially with traffic and make it beneficial for drivers,” Brown said.

Fast Cab is always looking to recruit more drivers and dispatchers. Interested drivers can contact Tony at 737-217-7569 or email fastcabaustin@gmail.com.

SXSW officially begins on March 11. KXAN looked at how vacation requests compare to this time in 2019 when SXSW was in town.

According to Expedia and Austin-based travel brand VRBO, there has been an almost 50% increase in demand for vacation rentals in the Austin area from the events of 2019.

Hotels.com is also reporting an increase in searches for hotels in Austin, which are up 35% from a week ago.

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Commercial mortgages: Commercial real estate set to ‘keep rolling’ with another explosive year | Economic news https://guideglobal.com/commercial-mortgages-commercial-real-estate-set-to-keep-rolling-with-another-explosive-year-economic-news/ Sun, 27 Feb 2022 14:45:00 +0000 https://guideglobal.com/commercial-mortgages-commercial-real-estate-set-to-keep-rolling-with-another-explosive-year-economic-news/ Rock band REO Speedwagon probably wasn’t thinking commercial real estate in the 1978 hit “Roll with the Changes,” but the song included some great advice for today’s investors: “keep rolling.” Despite high volatility related to the upcoming Fed decision and geopolitical instability, most commercial real estate players are anticipating another explosive year. Fixed rates have […]]]>

Rock band REO Speedwagon probably wasn’t thinking commercial real estate in the 1978 hit “Roll with the Changes,” but the song included some great advice for today’s investors: “keep rolling.”

Despite high volatility related to the upcoming Fed decision and geopolitical instability, most commercial real estate players are anticipating another explosive year.

Fixed rates have been on the rise since the start of the year, but floating rates have not moved yet and, in fact, remain incredibly low.

The basic principle that real estate is a good hedge against inflation causes pension funds, insurance companies and retail investors to flood the market with cash, and there is no end in sight. , especially for industrial, multi-family and health sciences buildings.

Trepp, a commercial real estate analytics firm, said the number of securitized commercial mortgages that are sent to a special manager (indicating these assets are under stress or at risk of stress) fell again in January. . This is the 16th consecutive month of decreasing balances.

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Of particular note is that loans to specially equipped hotels, which would have been hardest hit by the increase in COVID-19 infections due to the omicron variant, declined in January. Loans to individuals benefiting from a special service also fell.

So, as investors continue to ride, it seems consumers are in the same mood as well.

For example, Marriott International’s fourth quarter results showed a staggering 144% increase in revenue per available room in the United States and Canada, a key performance metric in the hospitality industry, compared to the same period in 2020.

The results are eloquent and show a strong recovery in the hotel industry despite two years of headwinds. Marriott has followed several trends: the leisure boom is driving the resumption of travel, and there is a significant increase in the number of travelers embracing multipurpose travel where they mix remote work and vacation.

While these trends are attracting many lenders to the hotel space, the pressure of the past two years has other lenders and investors still feeling overweight in hotels.

Recently, a $780 million loan secured by 48 hotels, including the Courtyard by Marriott Richmond Airport, was pulled from special service because a new buyer came to the table with new capital.

Global investment firm KKR assumed the loan and purchased the portfolio from a joint venture between DigitalBridge and Chatham Lodging.

Commercial Mortgage Alert surveyed major lenders in the secured loan bond and commercial mortgage-backed securities markets to get an idea of ​​projected lending volumes in 2022.

Despite a banner year last year in the secured loan bond market, respondents overwhelmingly forecast higher volume in 2022. The same result came from CMBS lenders, who in 2021 had the best year since the Great Recession. .

The money is available. The question is at what cost.

5- and 10-year interest rates are up from last month and are now between 3.35% and 3.55% for low-leverage trades, according to the National Mortgage Survey from John B. Levy & Co..

Variable rate debt is always cheaper, but with rate hikes on the horizon, borrowers need to weigh their options carefully.

John B. Levy & Co. partner and investment banker Andrew Little can be reached at alittle@jblevyco.com.

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