Host Compliance, which gathers data on short-term rentals in more than 100 U.S. cities, found a 250 percent year-over-year spike in complaints this summer.
October is often New York hotels’ busiest month. Last week, occupancy was hovering under 40 percent.
The management agreements, which were set to expire in 2035, cover a hotel portfolio that spans across 31 states.
One of the world’s largest hotel owners hired Rothschild & Co. to lead talks with its 19 lenders and evaluate options.
Builders have had no choice but to deliver projects that were in progress when the market turned and try and compete for bookings.
The Shanghai-based and U.S.-listed Huazhu Group is keeping an eye out for foreign acquisition targets.