Centara Hotels & Resorts, a unit of Central Plaza Hotel Pcl, will reopen existing properties and open eight new international ones.
Across the various subsectors, REITs remain on the trajectories that began in the fourth quarter of 2021 as the industry looks to a post-COVID-19 recovery.
The 21C hotel in Lexington, Ky. redesigned one of its rooms to mimic the ceiling chess board in The Queen’s Gambit.
The company reported about $3.4 billion in sales in 2019, but like most consumer-driven businesses, Fertitta’s chains were hit hard by the coronavirus.
Even amidst a pandemic, there is no shortage of capital sources for the right sponsors.
Columbia Sussex Group is in foreclosure on three hotels and is prepared to surrender two others to the lender.
“While we all want to protect health, we also have to fund our mandates,” says MBA’s policy head Mike Flood.
Occupancy for U.S. hotels averaged 44 percent in 2020, the lowest number on record, according to STR.
Revenue from the Trump hotel in Washington, D.C. and hotel properties in Las Vegas fell by more than half from 2019.
More hotel bankruptcy filings might be on the horizon as lenders lose patience dealing with defaults.