Even with more intensive cleaning, the less-contact approach to combating the virus may lower hotel costs, the executives said, especially if front desk staff is reduced in favor of cell phone check-in procedures.
"If the flaring pandemic causes further slowing in states reopening and reinstituting lockdowns, that would present a headwind to the recovery," according to the chief economist for JLL.
The suburbs around the windy city are well positioned to meet the changing needs of tenants, landlords and businesses in the wake of the COVID-19 pandemic.
"There was concern initially that while office buildings emptied out, multifamily buildings would be crushed by higher occupancy than what operators are used to and systems are designed for," Enertiv said. But New Yorkers had gotten out of town.
"We're highly concerned and very focused on what may be coming in the next few months," said Jeffrey Deboer, president and CEO of The Real Estate Roundtable.