Hotel Investor With $1 Billion Bets on Business Travel Rebound
- Dreamscape’s Birnbaum makes contrarian play on lodging
- Sees corporate lodging offering better bargains than resorts
A traveler walks through Newark Liberty International Airport in New Jersey.
Photographer: Angus Mordant/BloombergThis article is for subscribers only.
Pent-up vacation demand has boosted investor demand for beach resorts and roadside hotels. That crowded wager is already pushing one investor to explore ways to bet on business travel.
Dreamscape Cos. Chief Executive Officer Eric Birnbaum said his firm, which has more than $1 billion to buy hotels, sees more opportunity to acquire lodging properties that cater to business clientele, despite corporate America’s hesitance to put workers back on the road.