A Message from Our Leadership on COVID-19

“As a result of the Covid-19 crisis, we will be watching for special opportunities to acquire hotel properties that meet our investment criteria at discounted prices.” - Jack Moran, President & CEO, NLL

“While price adjustments related to the recent pandemic have not yet taken effect, we believe attractive acquisition opportunities will present themselves near term.” - Jay Gaydosh, Senior VP & CFO, NLL

“A number of owners of excellent properties, built post-recession, are now facing expensive brand-mandated property improvement plans (PIP’s), and many will want to sell their properties rather than refinance or infuse large sums of equity. Also, some owners do not have the skills and experience in managing large-scale PIP projects.” - George Pappas, Executive VP, NLL