Lodging & Hotel

With tourism imploding and lenders wary, some hotels under construction are no longer worth completing.

The REIT had held discussions with Bank of America, among others, about a potential high-yield bond offering.

Challenges for the CMBS sector continue to come into focus, although Fed moves have helped bring some liquidity back to the market.

Texas hotelier Monty Bennett, whose companies own 130 properties across the country, said Saturday that he will return the loans provided under the Small Business Administration’s Paycheck Protection Program.

The firm filed a lawsuit in Delaware Chancery Court seeing an order “compelling defendants to perform their obligations.”

Arne Sorenson said the company is working on new ways to protect hotel guests and workers.

Wynn Resorts CEO Matt Maddox would like the Las Vegas strip to re-open in May.

More hotels are likely to close as occupancies fall below 20 percent in most of the country’s largest markets.