In Some Regions Distressed Hotels Being Bought Pennies On the Dollar for Conversion
Diana Olick wrote an article Feb. 4, 2021 citing the affordable housing stock now 96-99% occupied, while in some communities many hotels are sitting empty due to the pandemic, with 18% behind on their mortgages as of December 2020 as compared with only 2% the prior year. Developers are taking advantage of this, purchasing distressed…Read More→