Hotel Market


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Investors worry that New York City’s battered commercial real estate sector is indicative of larger issues nationwide with hotels, restaurants and retail. (iStock)

New York’s CRE woes could spread nationwide: investors

Investors are betting that trouble in New York City’s commercial real estate market will spread nationwide. Prices for debt...

New York’s CRE woes could spread nationwide: investors
Ashkenazy Acquisition's Ben Ashkenazy and Marriott East Side at 525 Lexington Avenue (Google Maps)

Lawsuit accuses Marriott of misappropriating funds at East Side hotel

UPDATED, Oct. 14 2020, 3:30 p.m.: Marriott Hotels was sued by a Manhattan landlord for the alleged misappropriation of $12...

Lawsuit accuses Marriott of misappropriating funds at East Side hotel
Thor Equities’ Joseph Sitt and Palmer House Hilton at 17 East Monroe Street (Google Maps)

Thor’s Palmer House hit with $300M+ foreclosure suit

Joe Sitt’s Thor Equities is facing a $338 million foreclosure suit at the Palmer House Hilton in Chicago, after...

Thor’s Palmer House hit with $300M+ foreclosure suit
Commercial real estate indices were down compared with this time last year, but buyers still aren’t selling — yet (iStock)

Report shows how much commercial real estate has fallen

The economic toll on commercial real estate shows no signs of abating as the health crisis lingers. Indexes for...

Report shows how much commercial real estate has fallen
(iStock)

Half empty or half full? Hotel occupancy rate nears 50%

Hotels are continuing their comeback, ever so slowly. The occupancy rate across the U.S. hit 48.9 percent for the...

Half empty or half full? Hotel occupancy rate nears 50%
A rendering of 301 N. Michigan with Sterling Bay's Andy Gloor and Bank OZK’s George Gleason (Sterling Bay, Bank OZK)

Despite odds, Sterling Bay lands big loan for hotel-resi project

Sterling Bay is nothing if not optimistic. Despite the economic woes in Chicago, the development firm on Friday said...

Despite odds, Sterling Bay lands big loan for hotel-resi project
The W Hotel at 8 Albany Street (Google, Facebook)

W Hotel in downtown Manhattan closes forever

The W Hotel in downtown Manhattan is the latest to close its doors for good. The 217-key hotel at...

W Hotel in downtown Manhattan closes forever
The economy beat expectations in June, adding 4.8 million jobs, with retail and hospitality leading the way. But a surge in coronavirus infections threatens further gains. (Getty)

Retail and hospitality led June job gains as virus surged

The U.S. added 4.8 million jobs in June and the unemployment rate fell to 11.1 percent, beating economists’ expectations....

Retail and hospitality led June job gains as virus surged
The rate of job loss in America has stabilized, even though businesses continue to hemorrhage employees at unprecedented levels. (iStock)

Unemployment filings stabilize — but at record highs

Another 1.5 million Americans filed for unemployment benefits last week, about one-third fewer than the week prior. The number...

Unemployment filings stabilize — but at record highs
Federal Reserve Chairman Jerome Powell (Getty, iStock)

Real estate stocks outperform broader market but still sink

Real estate stocks recovered some of their losses after signs of a second wave of coronavirus infections pushed the...

Real estate stocks outperform broader market but still sink
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