New York’s hotel industry has a whole lot of debt and none of it is getting paid. There are $1.47 billion worth of commercial mortgage-backed securities loans on hotels that have gone unpaid, Crain’s reported. That’s the largest wave of hotel delinquencies in the country. It’s pushed the greater New York market’s delinquency rate to nearly 39 percent, compared to the usual 1 percent rate nationally. One in four U.S. hotels is at risk of
source https://therealdeal.com/2020/08/21/nearly-1-5b-in-nyc-hotel-loans-are-unpaid/
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