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August 2020's Converge Newsletter
Hotel Industry Faces Historic Wave of Foreclosures as Delinquencies Rise
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August 18, 2020 via Lodging Magazine
A new national report shows that the hotel industry is facing a historic wave of foreclosures as the COVID-19 pandemic continues to devastate small business hotel owners and its workforce. Since the beginning of the pandemic, the hotel segment has faced a historic number of delinquencies and is the most heavily hit sector of the commercial mortgage-backed securities (CMBS) market. On Aug. 18, nearly 4,000 hotel industry leaders sent a letter to Congress urging immediate action to help hotels avoid foreclosure and the loss of tens of thousands of jobs.

The report, compiled by Trepp, shows that the percentage of loans that is 30 or more days delinquent is 23.4 percent as of last month—the highest percentage on record. By comparison, the percentage of hotel loans that were 30 or more days delinquent at the end of 2019 was 1.3 percent.'s ConvergeBlog
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The State of Finance After the Three-Month Deferral

August 10, 2020 via Hotel Management
Fast forward to today, and there are still significant longer-term issues for the industry. Hoteliers with bank loans have often found their lenders to be less friendly to discussing a longer-term solution to manage debt until there is a sustained return to travel.
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How Hotel F&B Pivoted in Response to COVID-19, and What the Future Holds

August 12, 2020 via ConvergeBlog

As a result of the coronavirus, hotels all over the world have changed their catering options to allow for drive-through, curbside pick-up, take-out and delivery.
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Critical Considerations for Owners Reopening Hotels
August 5, 2020 via Hotel News Now

The closing of hotels gives owners and operators an opportunity to take a critical look at their hotels and how they operate to be better prepared for business when they reopen.
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