JLL Hotels & Hospitality CEO Kevin Davis joins Yahoo Finance to discuss the survey and explain why and how this part of the sector has been able to persevere through investors' caution. "Part of it is a rate story, I think part of it may be a story of distress and the expectation that there could be some distress in the marketplace in which case investors are looking to take advantage of that," Davis explains. "If you look back during the COVID period, there was an expectation that there would be a significant amount of distress that never came to fruition but, a lot of capital was raised to take advantage of that. Fast forward three years, we are in the midst of an aggressive Fed tightening cycle and I think the same mentality holds."
Digital Nomad Startup Raises $325 Million For 150 Boutique Hotels
Traditional short-term rentals often don't work well for the digital nomad who also wants to socialize. Outsite is trying to fill that gap. The company Outsite plans to purchase roughly 150 boutique hotels in Europe over the next five years to expand its cohousing community for digital nomads. Three real estate investors — Extendam, Keys REIM, and Stone Capital — have committed a total of €300 million ($325.6 million) toward purchasing the properties, according to Outsite founder Emmanuel Guisset in an interview with Skift.
