Reeling from double-digit declines in revenue per available room (RevPAR) in the U.S. and abroad, Starwood Hotel & Resorts Worldwide on Thursday reported a 65% drop in third-quarter profit. Net income totaled $40 million, or 22 cents per share...
Securitized lenders were heralded as a driving force in commercial real estate finance during the boom years, but in the down cycle the lenders who’ve held loans on their balance sheets through thick and thin will be the catalyst for establishing...
The number of hotel projects under development across the country declined by a whopping 27.9% in August over the same period in 2008, a new report shows. The number of rooms in the August 2009 pipeline decreased 2.5% from the previous month...
The U.S. lodging industry finds itself in uncharted waters due to a global economic and financial crisis that has taken a severe toll on the net operating income (NOI) of hotel owners, setting the stage for a wave of loan defaults and foreclosures...
Has the hotel market hit bottom? That was a subject of wide-ranging debate at the Midwest Lodging Investors Summit this week in Chicago, with most participants agreeing that the industry’s recession is likely to deepen further through the end of...
CHICAGO — It’s become a thorny issue of perception versus reality in the hotel financing world. Contrary to popular belief, lenders have not completely shut off the capital spigot, says Ravi Patel, vice president of finance and development for...
Not surprisingly, a panel of hotel valuation experts at the Midwest Lodging Investors Summit was unable to definitively answer the question embedded in the session’s title: What Is Your Hotel Worth Today? It wasn’t their individual or collective...
