Despite the fact that Jonathan Tisch and Mort Zuckerman are both commercial real estate investors, the two have opposing outlooks on the economic recovery, GlobeSt reported, based on remarks they made at today’s New York University Hospitality Conference.
For Tisch, co-chairman of the board of Loews Corporation, who recently sat down for a Closing interview with The Real Deal, travel is key.
“Travel is emerging as a key driver of the recovery,” Tisch told the crowd. “I see a long-term boom for travel.” By 2016, 800 million additional travelers will board planes and ostensibly occupy hotel rooms.
But Boston Properties Chairman Zuckerman was less optimistic.
“We need a recovery program to recover from our recovery,” he said at the conference. “I just don’t see a light at the end of the tunnel.”
Considering the state of the recovery, “we’re very vulnerable to any kind of shock,” he added.
But Zuckerman’s perspective appeared to stand on its own. Speaking of the travel aspect, Hilton President and CEO Chris Nassetta, also voiced optimism.
“We’re bullish and we’ve earned it,” he said at the talk. “The economy isn’t super-charged and that suggests a longer upcycle.” [GlobeSt] —Zachary Kussin