Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

ETF express.png
  • Alex Pettee, CFA

Hotel REITs: Dividend Cut Bloodbath

Updated: Sep 10, 2020

  • Hotel REITs have been hit harder than any real estate sector during the ongoing coronavirus pandemic and resulting economic lockdowns, plunging more than 50% in 2020.

  • Dividend cuts abound. Every hotel REIT slashed its dividend over the last quarter, but even that might not be enough to stay afloat as the industry faces an existential crisis.

  • "No vacancy" becomes "no occupancy." Following a record year of occupancy and revenues for the hotel industry in 2019, hotels are expecting a mind-blowing 50% plunge in revenues this year.

  • A rebound in economic activity since April has thrown a lifeline to several highly levered REITs teetering on the edge, but a "second wave" of the pandemic could be the death knell.

  • Hotel ownership is a tough, capital-intensive business even in the best of times. Outside of several well-capitalized hotel REITs, value-seeking investors should be wary of catching the falling knife.

To continue reading, click here to visit Seeking Alpha!

REIT Forum HOYA AD.png

  • Facebook Social Icon
  • Twitter Social Icon
  • LinkedIn Social Icon

Hoya Capital Real Estate, LLC

(833) HOYA-CAP

Hoya Capital Real Estate ("Hoya Capital") is an SEC-registered investment advisory firm that provides investment management services to ETFs, individuals, and institutions, focusing on portfolio and index management of publicly traded securities in the real estate industry. It is not possible to invest directly in an index. Index performance cited in this website or commentary does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. Nothing on this site nor any published commentary by Hoya Capital is intended to be investment, tax, or legal advice or an offer to buy or sell securities. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and should not be considered a complete discussion of all factors and risks. Data quoted represents past performance, which is no guarantee of future results. Investing involves risk. Loss of principal is possible. Investments in companies involved in the real estate and housing industries involve unique risks, as do investments in ETFs, mutual funds, and other securities. Hoya Capital has no business relationship with any company discussed/mentioned. Hoya Capital never receives compensation from any company discussed/mentioned. Hoya Capital, its affiliate, and/or its clients and/or its employees may hold positions in securities or funds discussed on this website and our published commentary. A complete list of holdings and other important disclosures and definitions are available by clicking the links below.

Privacy Policy 

 Client Relationship Summary 

Hoya Capital's ADV Part 2

Important Disclosures, Definitions, & List of Holdings 


The Easy Way To Invest In Real Estate