brett edgerton
The Zika Virus – An Evolving Risk to the Lodging Industry
CBRE Hotels | February 16, 2016
By Brett Edgerton, Economist, CBRE Hotels' Americas Research According to the World Health Organization (WHO), the Zika virus is spreading rapidly throughout the Americas. The outbreak is a potential health risk to individuals, especially pregnant women, as birth defects have been associated with women who were infected during pregnancy. The potential for the virus to spread to regions of the Americas thus far uninfected is extremely high. Past disease outbreaks similar to Zika have not caused severe declines in aggregate hotel demand, but local areas, such as Toronto during the SARS outbreak in 2003, saw meaningful declines in rooms...
Hotel Performance Following Natural Disasters
PKF-HR | CBRE Hotels | November 4, 2015
By Jamie Lane and Brett Edgerton The human tragedy wrought by natural disasters, such as the recent damage done along the Atlantic coast by Hurricane Joaquin, can be tremendous. The death toll within the United States and the Caribbean related to this event is estimated to be in the double digits, and the remediation costs projected to be in the billions. Hotels, as any business in catastrophes, face threats related to such events. The hotel industry is exposed to the physical risk of its property being damaged as well as the economic risk of tourism suffering as people avoid areas disrupted by the disaster. Furthermore, areas most heav...
