ATLANTA — The 32nd annual Hunter Hotel Investment Conference has been canceled for 2020 due to the coronavirus (COVID-19) pandemic. The conference, which brings together hotel investors, managers, developers, lenders and brokers, was originally scheduled for March 18-20 in downtown Atlanta, but was postponed indefinitely March 12 by Hunter Hotel Advisors. After much deliberation, the Atlanta-based organization decided to outright cancel the 2020 conference. “Through continually following the published guidance issued by the Centers for Disease Control and Prevention (CDC), the World Health Organization (WHO), and our local health officials we simply do not want to risk the health of any of our attendees or the people with whom they come into contact,” according to a statement that appears on the Hunter Hotel Conference website. In 2019, the conference attracted more than 1,850 attendees from across the Southeast. As of this writing, there are 467,184 confirmed cases of COVID-19 in the United States, according to Johns Hopkins University (JHU). There are 1,336 confirmed cases in Fulton County, where the conference typically takes place. The next Hunter Hotel Investment Conference is now scheduled for March 9-11, 2021.
AUSTIN, TEXAS — Walgreens will introduce rapid testing services for COVID-19 across select parts of the state, Texas Gov. Greg Abbott said in a press conference on Wednesday afternoon. The move comes as part of a larger effort to increase the number of people tested, and to do so with less aid and supervision from the federal government. Walgreens will also roll out this effort in six other states: Arizona, Florida, Illinois, Kentucky, Louisiana and Tennessee. Local ABC affiliate KVUE reports that test results will take about 15 minutes to process, and that each site may be able to test up to 3,000 people per day. Time frames for the rollout of these services and locations of testing sites were not specified. As of Thursday, April 9, the Texas Department of Health and Human Services had identified 9,353 cases of COVID-19 across the state with 177 fatalities.
HOUSTON — Camden Property Trust, a Houston-based multifamily developer and operator, has established a $5 million resident relief fund for renters experiencing financial hardships as a result of the COVID-19 outbreak. The fund is intended to help affected residents by providing financial assistance for living expenses such as food, utilities, medical expenses, insurance, childcare and/or transportation. Grants would be offered to Camden residents in good standing and not currently on notice to vacate. Financial assistance would be capped at $2,000 per apartment home.
NASHVILLE, TENN. — TC Restaurant Group has filed a Worker Adjustment and Retraining Notification (WARN) Act with the Tennessee Department of Labor and Workforce Development to notify the agency of 411 employee layoffs stemming from closures due to the coronavirus (COVID-19) pandemic. The Ohio-based company operates five honky-tonks in downtown Nashville, including Jason Aldean’s Kitchen + Rooftop Bar, Luke’s 32Bridge Food + Drink, Luigi’s City Pizza, Tequila Cowboy and FGL House. TC Restaurant Group says the employees were laid off in mid-March, when the company temporarily closed the doors to those establishments due to the COVID-19 outbreak. As of this writing, there have been 888 confirmed cases and nine deaths due to COVID-19 in Davidson County, according to Johns Hopkins University (JHU).
DUNCAN, OKLA. — Houston-based oilfield services firm Halliburton Co. will lay off approximately 350 employees at its facility in Duncan, according to reports from several news outlets including The Houston Chronicle and Reuters. The Chronicle reports that the move was revealed via a filing with the Oklahoma Office of Workforce Development, and that the company has independently confirmed plans to reduce its workforce as oil prices continue to suffer. Several weeks ago in mid-March, Halliburton furloughed some 3,500 workers at its Houston headquarters via a program in which employees would work every other week for 60 days. As of Tuesday afternoon, the price of West Texas Intermediate crude stood at $25.61 per barrel, down from $63.98 per barrel a year ago.
DALLAS — Locally based developer Centurion American has provided rooms at The Statler Hotel in downtown Dallas for healthcare workers who are battling the COVID-19 pandemic. According to NBCDFW, Centurion American has designated two floors of the hotel for use by medical professionals from nearby hospitals, including Baylor Medical Center, Teas Health Presbyterian Hospital and Parkland Memorial Hospital. Centurion American is perhaps best known as the developer behind the repositioning of Collin Creek Mall in Plano.
SMYRNA, TENN. AND CANTON, MISS. — Nissan Group of North America will furlough 10,000, hourly manufacturing employees in its Tennessee and Mississippi plants. The decision comes on the heels of the Japanese automaker closing its manufacturing plants in Smyrna and Canton until at least the end of April due to the coronavirus pandemic. The plant in Smyrna is located 27 miles southeast of downtown Nashville. The plant produces 640,000 vehicles annually and employs 7,250 workers. The plant in Canton is located 22 miles north of Jackson. The plant produces 450,000 vehicles annually and employs 5,250 workers.
BALTIMORE — In response to the spread of COVID-19, Under Armour Inc. (NYSE: UA) will temporarily lay off some 6,000 employees at its outlet stores around the country and approximately 600 workers at its U.S. distribution centers, effective Sunday, April 12. The Baltimore-based sports apparel retailer also said it would extend current store closures until further notice. In addition, the company’s board of directors and executive vice presidents will be taking 25 percent pay cuts during the public health crisis. Under Armour workers at distribution centers that continue to work will be paid premium bonuses. The company will cover full health benefits for employees for approximately two months during the layoff period. “In these unprecedented and challenging times, the majority of stores where Under Armour is available remain closed, contributing to a significant decline in revenue,” says Patrik Frisk, the company’s president and CEO. “While we’re thankful for the meaningful balance sheet improvements we’ve driven over the past two years and are seeing some early signs of recovery in our Asian-Pacific region, this unanticipated shock to our business has been acute, forcing us to make difficult decisions to ensure that Under Armour is positioned to participate in the eventual recovery of demand.” Prior to …
SAN ANTONIO — The San Antonio Apartment Association has proposed an emergency rental assistance program as a means of helping residents that are struggling to pay rent as a result of COVID-19. The organization is encouraging its members to forgive 25 percent of their outstanding rents and waive late fees for residents earning less than the area median income who can also show proof of unemployment.
DALLAS AND CALABASAS, CALIF. — Marcus & Millichap has acquired Metropolitan Capital Advisors (MCA), a Dallas-based financial intermediary specializing in arranging debt and equity for commercial real estate investors and developers. MCA, which was founded by Scott Lynn in 1992, completed more than $650 million in commercial debt and equity transactions in 2019. The deal has officially closed.