Asian Hospitality - DEMOCRATS WILL NOW control both chambers of Congress from January following the Nov. 3 midterm elections, but that may do little to improve policy predictability. Also, the outcome arrives as hotel owners and developers contend with tighter credit, refinancing needs and uncertainty over the policies that shape long-term investment.
According to NBC News, Democrats won the House and flipped seven Republican-held Senate seats, including in Texas, Kansas and South Carolina. CNBC counted nearly 30 House districts changing hands and MS NOW reported that voter frustration over rising costs helped drive the result.
“Investors can underwrite risk. What is much harder to underwrite is an environment where the rules keep changing,” Greg Friedman, CEO and managing principal of Atlanta-based Peachtree Group, wrote in a LinkedIn post following the election.
