Remote work threatens business hotels’ recovery

Hotels relying on business travel encounter refinancing challenges, partly because of falling property values as occupancy rates stay depressed

Mar 27, 2023

Some hotel owners that rode out the coronavirus pandemic are finding the recent travel rebound might not be enough to persuade lenders to extend new credit when their debts mature in the coming months or years.

Key takeaways

  • The decline in business travel has greatly impacted business-centric hotel properties, especially those with sizeable meeting rooms and conference centers;
  • Across the country, business hotel property values have dipped, making refinancing a greater challenge;
  • Business hotel operators have to find creative ways to generate business from larger meeting spaces and conference centers which experienced higher demand pre-pandemic.

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