Although the first wave of COVID-19 relief funds, steady leisure demand and lenders’ flexibility helped prop up U.S. hotel companies through 2020, industry experts expect to see more distressed assets as the pandemic continues.
When the coronavirus pandemic began, many in the industry believed they would see a wave of hotel owners turning their properties over to their lenders, but that didn’t happen, at least not at the scale they expected.
Now that the pandemic has stretched for nearly a full year in the U.S., owners continue to struggle with significantly reduced revenue streams. For some, that also means running out of time with their lenders, who are turning to operators that help manage these properties once they enter receivership.
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