306 | Calculated Risks: Catastrophic 2020 means higher insurance costs for hotels

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Ben Seidel is founder, president and chief executive of Real Hospitality Group, a third-party manager with a portfolio of more than 100 hotels. Like most owners and managers, Seidel and his team view the coronavirus pandemic as the biggest risk facing hotel performance but acknowledge that other threats also loom large. The number and severity of climate-related catastrophes in the U.S. broke a record in 2020. As a result, Seidel has seen property insurance costs dramatically increase for 2021. Long Live Lodging explores how changes in commercial insurance coverage is affecting the hotel industry. This report is part of our ongoing coverage of the coronavirus crisis and its impact on the hospitality industry.

The post 306 | Calculated Risks: Catastrophic 2020 means higher insurance costs for hotels first appeared on Long Live Lodging.

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