A 246-key Hyatt Centric appraised at $56M against an $85M loan and a 428-key lifestyle hotel carrying $172M in JP Morgan debt both faced foreclosure Tuesday in Austin. When your city demolishes the demand generator that justifies your basis, the math doesn't wait for the rebuild.
Right now, half the country is getting hammered by blizzards, heatwaves, and coastal storms simultaneously... and the GM at an airport hotel in Chicago is dealing with the exact opposite problem as the GM at a beach resort in the Carolinas. Both of them need a plan by tonight.
Full-year 2025 GOP margins improved 1.1 points thanks to labor discipline, but Q4 told a different story: margins dropped 3.3 points when demand softened and costs didn't flex fast enough. The gap between those two numbers is where operational friction lives, and most GMs aren't tracking it.
