“Climate change is increasing the severity of extreme weather events, from droughts to floods to coastal storms and wildfires, and these disasters are creating more problems for real estate. Hotels are significantly vulnerable to the rise in extreme weather, perhaps more than any other client-facing industry.

The increasing number of natural disasters accelerated by a changing climate including the record number of billion-dollar disasters that hit the U.S. in 2017 and the cumulative cost of these disasters are outpacing the insurance industry‚Äôs ability to help big owners mitigate these risks. In 2017, insurers paid out a record $135 billion globally for storm damage.”
Source: Curbed

 

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