Cosakita18
Senior Member
- Joined
- Jun 14, 2016
- Messages
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I think that the days of ridiculously priced hotel rooms on the peninsula are gone for now.
I think the most immediate fallout from this is that we are going to see every hotel project that hasn't already broken ground be stalled or cancelled. This includes the Longfellow, Time & Temp renovation and Thompson's point.
Regardless of when covid-19 is contained, every projection for the next 6 months shows that the economic fallout from this is going to extend into the summer, and it stands to reason that summer of 2020 is going to be noticeably less crowded than previous years. Portland already has a large oversupply of hotel rooms for almost half of the year and a year or two of lackluster summer visitors could doom a lot of hotel projects.