Distressed hotel owners may need to wait until 2024 to see a full rebound.
Hospitality property values are forecast to see swift improvements after 2022 though a full rebound for all types of hotels is years away, according to real estate data firm CoStar Group Inc. The sector has a lot of ground to cover as valuations on hotels tied to defaulted or distressed loans securitized in commercial mortgage-backed securities fell more than 20% last year from origination appraisals.
“This time around, economy and midscale properties, as well as extended-stay hotels weathered the downturn better than luxury and full-service hotels,” ...
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