Apr 28, 2020
How the Pandemic Economy Has Hit The Hospitality Business in Phoenix
w/ Brandon Brown of the Phoenix Business Journal
- BRT S01 EP12 4-26-2020
Restaurant and Hotel industry in Phx during the Pandemic
Guests: Brandon Brown w/ Phoenix Business Journal
https://www.bizjournals.com/phoenix/bio/24441/Brandon+Brown
Notes:
Restaurants
How restaurants are transitioning to takeout business model
Are restaurants that cannot adjust just closing for the spring
Ex – high end restaurant
General mood of restaurant owners – belief things will improve in fall?
Future Projects / Hotel Industry
Future of restaurant projects – what has been put on hold or cancelled
Hotels – what hotels remain open, what capacity
Future of Hotel projects – any cancelled
Guest: Steven Hensley
w/ Belfiore Real Estate Consulting on Phx Real Estate
https://belfioreconsulting.com/
Notes:
Phoenix Real Estate Industry
How is the industry reacting to this crisis, is business just on hold
Current projects – on hold, proceeding
Do realtors continue to prospect for future deals
General mood of realtors – belief things will improve in fall?
Future Projects / Commercial Real Estate
Office Vacancy rates, and business not paying rent (could move to Seg 1) *
Future of projects – what has been put on hold or cancelled
Investment – what capacity is slowed down, or are projects years in making so will proceed
How the crisis will affect how companies do business – more virtual short term office space
MB on Covid 19 Health Crisis of 2020 vs the 2008 Financial Crisis
Notes:
Economy – all data shows worse since early 2009
Stimulus of $2 tril and counting, maybe $400 bil more
26 million unemployment, headed for 15%
Compare to 2008 recession
3% GDP decline, 10-20% overall decline in business in 2020
business down over 50% in some industries
Manufacturing and service down almost 50%
Car – can they recover, will Gov’t bailout? 2009 needed $82 bil loan, is BK likely?
Travel off 85%, Hotel down at least 70-80%
https://www.ahla.com/covid-19s-impact-hotel-industry
Oil down 50%
Retail – co’s going to online mkt have hope, online up 50%, online was already threatening retail
1 in 4 jobs retail related
15k stores could close, 600k workers already furloughed, and major retailers like JC Pennys, Nordstrom, Gap, Macys, Kohl’s in trouble – expect BK and rent abatement
others will go under – up to 50% of retail could fail, bk as bailout prob will not happen
Macerich – mall operator in trouble with stores closed
NBC News – retail has been on life support 4/7/2020
Real Estate Topic: https://brt-show.libsyn.com/category/Real+Estate
https://brt-show.libsyn.com/size/5/?search=best+of+real+estate
Business Topic:
https://brt-show.libsyn.com/category/Business-Consulting-Bus+Lessons-Management-General
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Business Roundtable with Matt Battaglia
The show where Entrepreneurs, High Level Executives, Business Owners, and Investors come to share insight and ideas about the future of business. BRT 2.0 looks at the new trends in business, and how classic industries are evolving.
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