The COVID-19 pandemic has affected hotels more than other asset classes eligible for CMBS conduit loans. In January 2021, the U.S. hotel industry reported all-time lows in occupancy and revenue per available room (RevPAR), according to yearend 2020 data from STR. In addition, year-over-year declines … [Read more...] about 3.2.21: CMBS Conduit Loan Market Prepares to Close More Hotel Loans
VALUEXPRESS OBTAINS A $5,000,000 SBA 7(a) COMMITMENT FOR A HILTON GARDEN INN HOTEL IN MCALLEN, TX
ValueXpress has arranged a $5,000,000 SBA 7(a) loan commitment for the refinance of the Hilton Garden Inn – McAllen, a 4-story, 104-room interior-corridor property that was constructed in 2000. The property offers a restaurant and lounge, 975 square feet of meeting space, an outdoor pool, an outdoor … [Read more...] about VALUEXPRESS OBTAINS A $5,000,000 SBA 7(a) COMMITMENT FOR A HILTON GARDEN INN HOTEL IN MCALLEN, TX
2.20.21: ACORE Launches $1-Billion Hotel Rescue Capital Initiative
ACORE Capital has formed an investment strategy backed by a group of institutions targeting rescue capital for North American hotel operators to navigate the ongoing health crisis and subsequent debilitating blow to the hospitality industry. The initiative culminated on Tuesday with the company … [Read more...] about 2.20.21: ACORE Launches $1-Billion Hotel Rescue Capital Initiative
VALUEXPRESS OBTAINS $3,425,000 SBA 7(a) COMMITMENT TO PAY OFF A CMBS CONDUIT LOAN FOR A DAYS INN HOTEL IN LAREDO, TX
ValueXpress has arranged a $3,425,000 SBA 7(a) loan commitment for the refinance of the Days Inn – Laredo, a 2-story, 126-room interior-corridor property that was purchased and gut-renovated by the sponsors in 2011. The property offers an outdoor pool, exercise room, outdoor barbeque and picnic … [Read more...] about VALUEXPRESS OBTAINS $3,425,000 SBA 7(a) COMMITMENT TO PAY OFF A CMBS CONDUIT LOAN FOR A DAYS INN HOTEL IN LAREDO, TX
10.23.20: HOTEL MARKET OBSERVATIONS FROM LW HOSPITALITY ADVISORS
According a recent report from LW Hospitality Advisors, the situation with today’s global travel sector, which many characterize as being “on the brink of collapse,” is simply unprecedented. Seven months into a worldwide pandemic that shows no sign of abating anytime soon caused a swift, wide, and … [Read more...] about 10.23.20: HOTEL MARKET OBSERVATIONS FROM LW HOSPITALITY ADVISORS
10.10.20: TREPP EXAMINES HOTEL DISTRESS IN THE UNITED STATES
According to Trepp, the lodging delinquency rate for CMBS conduit loans in September came in at 23%, while the lodging special servicing rate came in at an all-time high 26%. Both numbers illustrate a sector that is rife with distress and has yet to find a real source of respite. Trepp examined … [Read more...] about 10.10.20: TREPP EXAMINES HOTEL DISTRESS IN THE UNITED STATES
10.7.20: NEW YORK’S ROOSEVELT HOTEL CLOSING PERMANENTLY DUE TO COVID
COVID-19 has claimed the landmark Roosevelt Hotel in Midtown Manhattan. The hotel’s owner, Pakistan International Airlines, announced over the weekend that it was shuttering the 19-story, 1,015-key hotel at 45 East 45th Street before the end of 2020 due to a steep drop in demand because of the … [Read more...] about 10.7.20: NEW YORK’S ROOSEVELT HOTEL CLOSING PERMANENTLY DUE TO COVID
VALUEXPRESS OBTAINS $1.5-MILLION SBA 7(a) LOAN FOR THE REFINANCE OF A DAYS INN HOTEL LOCATED IN CARSLBAD, NM
ValueXpress has arranged a $1.5-million SBA 7(a) loan for the refinance of a 50-room exterior-corridor Days Inn hotel located in Carlsbad, New Mexico. The 2-story property was constructed in 1995 and renovated in 2016. The $1.5-million renovation in 2016 included all new rooms and furnishings and … [Read more...] about VALUEXPRESS OBTAINS $1.5-MILLION SBA 7(a) LOAN FOR THE REFINANCE OF A DAYS INN HOTEL LOCATED IN CARSLBAD, NM
6.4.20: CERTAIN HOTEL MARKETS BEGIN TO SEE RECOVERY
The global threat from the coronavirus pandemic will eventually pass and hard-hit hoteliers will begin to see occupancies rise. Green shoots are sprouting for certain markets, primarily drive-to beach locations, budget hotels and smaller, limited service interstate highway properties. Hotels that … [Read more...] about 6.4.20: CERTAIN HOTEL MARKETS BEGIN TO SEE RECOVERY
12.5.19: CARLSBAD, NM HOTEL MARKET POWERED BY THE DELAWARE BASIN
Carlsbad, New Mexico is located 150 miles northeast of El Paso, Texas, in the southeastern section of New Mexico. It is well known as the gateway to the vast, bat-filled caves of Carlsbad Caverns National Park. But what’s really happening in Carlsbad involves oil and gas exploration and … [Read more...] about 12.5.19: CARLSBAD, NM HOTEL MARKET POWERED BY THE DELAWARE BASIN
