hotel debt
Still Stuck in the Hotel Debt Quagmire
Dexter Wood | November 17, 2022
By Dexter Wood Little has improved in the realm of lodging debt maturities and the hotel refinancing environment since we last reported in August. Perhaps it will be the passage of time that gets us closer to the other side of the current period of difficulty and insecurity. There are simply too many variables at play at the moment and a lack of confidence in the near-term future of the debt markets. As Lou Plasencia, CEO of The Plasencia Group, recently wrote, “markets hate uncertainty.” Debt markets only work when lenders can effectively and appropriately price risk, and that is very difficult to do right now. Many lodging industr...
A Hotel Debt Quagmire: Borrowers With Maturing Loans Have Increasingly Fewer Options
The Plasencia Group | August 26, 2022
By Dexter Wood New Debt Has Vanished New debt for hotel acquisitions has all but vanished, but a bigger problem may be the wave of existing debt facilities of all types that are scheduled to mature this year and next. Beginning at the start of 2022 and through the end of 2023, nearly 45,000 CMBS hotel loans totaling about $30 billion in value were set to mature as illustrated in the graph at right. Although the lodging industry has made great progress since the depths of the COVID-19 pandemic, the recovery has proven to be uneven, selective, and vulnerable to a plethora of external factors. ...
COVID-19 Financing Strategic Options for Hotel Owners
Harry G. Spirides | March 19, 2020
By Harry G. Spirides, President & CEO of Spirides Hospitality Finance Company Along with all the other industries around the world the U.S. hotel industry has been blindsided by the COVID-19 Global Pandemic Black Swan Event. Instantly, hotel owners have found themselves with empty hotels, depleted cash reserves, and wondering how they will be able to make their monthly mortgage payments and payroll which were hardly ever considered to be a problem in the expansionary period leading up to COVID-19. Due to the recent unprecedented sharp interest rate cuts by the Federal Reserve, the Prime Rate is now set at 3.25% which sets the table fo...
RobertDouglas Advises Clarion Partners on the $670 million Refinancing of a 65-hotel Portfolio
RobertDouglas | April 1, 2015
San Francisco, CA – April 2, 2015 – RobertDouglas announced today that it advised Clarion Partners on the refinancing of the 65-property CBM Two Hotels LP Portfolio. Bolstered by robust in-place cash flows, strong geographic diversification, and institutional Sponsorship, the Portfolio attracted strong interest from a wide array of lenders. The $670 million five year, fixed-rate mortgage financing was provided by Deutsche Bank who is expected to securitize the loan in a single-borrower deal later this year. The Portfolio is comprised of 65 Courtyard by Marriott hotels totaling 9,590 keys and located in 29 states and 46 metropolitan ...
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