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Hotel expert says hospitality sector is rebounding nicely from pandemic

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Hospitality insider Rich Lillis says the hotel industry —especially in Tampa and other parts of the region — is mostly back to pre-pandemic levels.

Rich Lillis knows a thing or two about the hotel industry. He should. He started in the business working at local hotels, rose into management and then transitioned into financing.

Today, he is executive managing director for the U.S. hotel division of Colliers. He’s a frequent speaker on the hospitality industry and works with clients on hotel and resort investment, sales and financing in Florida as well as the East Coast and the Caribbean.

As a Floridian — he lives in Boca Raton — he has deep understanding of what is happening on the Gulf Coast.

Lillis is optimistic about how the industry is recovering after a disastrous 2020 when COVID-19 brought tourism to virtual standstill. He says investors are showing their positivity by snatching up properties along the coast and that hotel owners and operators are holding steady on higher rates to avoid the mistakes of previous downturns. And to keep revenue steady as costs go up.

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Hotel expert says hospitality sector is rebounding nicely from pandemic

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Rich Lillis

Executive Managing Director, Hotels USA

Boca Raton

Rich Lillis is a leading expert providing strategic advisory services to clients on hotel and resort investment sales and financing in Florida, Eastern United States and the Caribbean. In his role as Director of Colliers Hotels USA, Rich leads a nationwide team of lodging specialists, leveraging unique industry insights and sharing best practices to deliver great results for clients. In the dynamic hotel investment market, Rich and his team provide valuable solutions to hotel owners and investors, developers, land owners, regional lenders and special servicers. 

As a frequent speaker at national hotel investment conferences ALIS, NYU and NABHOOD, Rich offers a unique perspective from his deep experience and diverse lodging background.   

Prior experience includes Miami practice leader at Horwath HTL, asset management at Ocwen Financial Corporation and hotel management positions at New Castle, Doral, Marriott International and Plaza Hotel. Rich earned his Bachelor of Science in Economics from State University in New York and is a Florida licensed real estate broker. Rich and his wife Maureen reside in Boca Raton, Florida.

Colliers is global leader in lodging investment services with 150 dedicated hotel professionals in the USA, Canada, EMEA and APAC providing transaction, financing, consulting and valuation services. 

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