Revisiting Distressed Hotels: Post Covid Recovery and the Outlook on Defaults and Insolvencies
The COVID-19 pandemic brought profound impacts to the hospitality industry. Few other sectors of the economy faced the same constraints. Travel spending fell by 42% in 2020, with total losses nearing $200 billion. Occupancy declined about 43%.1 As 2021 dawned, the American Hotel and Lodging Association issued an uncharacteristically dire prediction: up to 50% of […]