
Coupled with an occupancy crisis, the devastation wreaked by the real estate crisis is trickling its way into hotel properties .nanced through major debts. Observers are bringing up the great real estate crisis of the 90s, when more than 2,000 hotels changed hands causing considerable losses for the previous owners. The .rst funds specializing in the management and takeover of distressed assets are springing to life. And sharing the spoils has only just begun…
After asset managers, will “distressed asset managers” become the new musts for the hotel industry? Rescaling or restructuring debt, finding partners to attenuate an excessive leverage effect, negotiate with suppliers, preserve the property’s value and mediate between the different parties to find...
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