Hotel owners with heavy debt loads are grappling with the prospect the industry could fall into a tailspin from the spread of the coronavirus, leading to a potential uptick in defaults.
The U.S. hotel industry overall had about $300 billion of mortgage debt as of the third quarter of last year, up 7.8% from one year earlier and 14.2% from two years earlier, according to data firm Trepp LLC. New York, Los Angeles, Las Vegas and other cities that count on foreign visitors could be especially vulnerable, analysts say.
'Tailspin.' Nice. WSJ has sunk to NYT/CNN-level of relentlessly creating fear and panic. At least all the clicks make you money while everyone else is losing it. Used to be a balanced source of news-now like a tabloid. Disgraceful.
They charging too much anyway.
Since hotel patronage, depends a great deal on travel, Airlines must be feeling the effect as well. This means discounts for everyone. So if you want to travel you can book a flight & accommodations at affordable prices right now.
So anyway, i wonder how crazyman does it? I am miffed!
Unfortunately, it’s going to be a domino effect of things in various industries as everyone else from management to employees to consumers taking precautions to minimize, if not avoid, human contact, temporarily until further notice
Hmmm, I wonder if the TrumpHotel D.C. is particularly vulnerable, given that the CPAC people all hang out there? 🦅🇺🇸⚖️
Trump will offer a bailout for hotels. He will always protect himself first.
They could offer testing?
People need to stop overreacting. Keep in mind 61,099 people died from the flu in 2017. The symptoms of COVID-19 are the same as the common cold.
This is going to be a few months duration. Life will return to normal. Tighten your belts for now, take care of your people and well managed businesses will come through. We all need to be patient.
Опять вспомнили про короновирус? Похвально. Что- то должно же и из-за него случиться, правда? Иначе зачем его было так раскручивать
Hotels that have stood for 50-60 yrs most still owe a fortune? ? Do what they do in Europe rent rooms out too the homeless and asylum 👀's
the world now had to pay back what they have got from CCP controlled nation.
Trump resorts will need a bailout I bet
POTUS being one of those.....
Do banks want to own and operate these or do they want steady payments? Seems ripe for banks to work it out with borrowers to keep payments coming. Especially when there is a short term disruption instead of systemic issues.
Dont forget Florida resorts
Do we know anyone connected with the hotel industry? Government bailout incoming.
Debt is a serious risk for today’s investors
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