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July 2, 2020

Before You Buy Distressed Hotel Properties

By Jenny Redlin, REPA

BEFORE YOU BUY DISTRESSED HOTEL PROPERTIES

Since the COVID-19 outbreak, demand for hotel rooms remains low, and the resulting loss of revenue is leading to foreclosures. According to a May 2020 report by Trepp, LLC, over 500 hotels are currently in foreclosure. While these assets may appear attractive to opportunistic investors, the extraordinary circumstances of the coronavirus pandemic demand extraordinary due diligence. Buyers wishing to capitalize on discounted hotel properties should employ the due diligence assessments recommended for all property acquisitions, plus additional assessments to address risks associated with COVID-19. Read the complete breakdown here on GlobeSt.com.

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