- Due to the cornavirus pandemic, 80% of NY’s hotels backed by commercial mortgages are under financial distress.
- 37.7% of NY hotel loans packaged into commercial mortgage-backed securities (CMBS) are on an investor warning list that the mortgage loans could soon be transferred to debt collectors.
- Another 44.7% of NY hotel loans have been transferred to special servicers for help getting the hotels to pay their mortgages or foreclose on the properties.
- A hotel executive deemed half of NY’s hotels surviving a “great” outcome.
