Commercial Spaces: Have Hotels Recovered From The Pandemic?

By CHUCK GREEN Putting on the Ritz? Or at least booking a stay there? As the hotel industry continues to regain its traction this year in the aftermath of the Covid pandemic, according to at least one industry leader, it seems that, overall, luxury brands generally have been on a faster track toward recovery than others. “Resort markets are off the charts,” Jim Butler, partner and chairman of the Global Hospitality Group in Los Angeles, told The Mortgage Note. “Everybody went as soon as they could.” In 2020, the value of the luxury hotel market stood at $174.9 billion, according to Mordor Intelligence. During the forecast period 2021-2026, it’s projected to hit a compound annual growth rate of more than…