Cash-strapped hotel owners are selling properties at discounts and agreeing to sky-high interest rates with federal aid about to end. The desperate moves are mostly by small or private hotel owners, though some real estate investment trusts are also feeling the pinch, the Wall Street Journal reports. Chicago-based Watermark Lodging Trust sold Hutton Hotel in Nashville for $70 million, despite the property being valued at $90 million to $100 million. The REIT also raised $200
source https://therealdeal.com/2020/07/29/desperate-hotel-owners-selling-at-discounts-up-to-30/
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