One of the highest risk property sectors during the COVID-19 pandemic is the gaming REIT sector. Because of the close correlation to airlines and lodging, casinos are at a much higher risk due to social distancing since they depend so heavily on travel.
Many businesses have suspended all non-essential travel and conventions scheduled for the first half of the year are being cancelled.
Although we have begun to look at the lodging REIT sector “opportunistically,” most hotel companies are no longer comfortable providing guidance amid this heightened uncertainty. (We have only one spec buy