Skift Take
Plenty of money is out there to buy up hotel assets during the pandemic, but various rounds of stimulus and bank forgiveness may prevent the wave of deals Dreamscape and other investors hope to find.
Dreamscape Cos. is the latest investment firm to announce plans to direct cash into the struggling hotel industry, particularly properties catering to business travelers. It isn’t clear when those deals will — if ever — transpire.
The New York City-based investor, which bought the Rio All-Suite Hotel & Casino in Las Vegas in 2019 for $516 million, has more than $1 billion on hand to buy hotels.
While it is expected to look at all opportunities, Dreamscape is notably exploring properties in the struggling business-transient and convention sectors — two areas with a less certain recovery timeline.
"We are not married to simply that vertical, but the recovery within that vertical may take more time, and as such that’s where entry pricing may end up being more compelli
