New York City’s hotel industry is struggling, and one hotel owner has now secured federal assistance to help keep the lights on. Rotem Rosen’s MRR Development secured a $1.7 million Paycheck Protection Program loan for the Hotel Indigo Lower East Side at 171 Ludlow Street, according to a disclosure published Thursday to the Tel Aviv Stock Exchange. The company also expects a $800,000 loss for the hotel in the first quarter, according to preliminary estimates
source https://therealdeal.com/2020/04/16/rotem-rosen-lands-sba-loan-on-hotel-indigo-to-keep-lights-on/
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