Poor hospitality: Hotel owners in big cities hit major tipping point
Many owners and operators are being forced to permanently close or sell their assets at steep discounts as losses increase.

All of the lights in the Hilton Times Square have been pitch black for weeks — one of several ominous signs for hotel owners in New York and other large cities around the country. The owner of the 478-room property, just blocks away from Broadway and Bryant Park, disclosed plans to the state’s Labor Department last month to permanently shut its doors and lay off 200 employees. The real estate investment trust Sunstone Hotel Investors...
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RSK: Many Hotel/Motel`s will need to find an alternative use to survive.



- - Volume: 8 - WEEK: 45 Date: 11/3/2020 9:21:35 AM -