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Lenders › Hotels

Mandelbaum Barrett PC

Spotlight on Hotel Comfort Letters

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A hotel comfort letter is a document issued by a hotel franchisor to a lender when a hotel owner (the borrower) seeks financing. It provides the lender with assurances about the relationship between the franchisor, borrower,...more

Goodwin

Cash Management in Hotel Financing

Goodwin on

The financing of hotels and resorts requires balancing the borrower’s need for flexibility to successfully operate the hotel against the lender’s desire to prevent cash leakage should conditions related to the borrower’s...more

Levenfeld Pearlstein, LLC

Top Takeaways from the Americas Lodging Investment Summit

Levenfeld Pearlstein, LLC on

The Americas Lodging Investment Summit (ALIS) kicked off the first of the year’s major hospitality conferences in Los Angeles, California, on January 23-25, 2023, with leading hotel industry experts expressing continued...more

Miller Canfield

Hotel Revenues Are "Rents" Under New Michigan Law

Miller Canfield on

On June 24, 2022, Michigan passed the Michigan Uniform Assignment of Rents Act (MUARA). When it did, Michigan became the first state with a Uniform Assignment of Rents Act that expands the definition of "rents" to include...more

Goodwin

Negotiating Preferred Equity Recognition Rights in Hospitality Deals

Goodwin on

In recent years, hotel sponsors and developers have increasingly turned to alternative capital sources, like preferred equity, to finance and reposition their existing assets and fund new acquisition and development...more

Goodwin

2021 Real Estate Capital Markets Conference Recap

Goodwin on

2020 was a challenging year, to say the least. The real estate industry continues to feel the effects of the global COVID-19 pandemic and subsequent economic consequences going into 2021 as industry leaders are still...more

Goodwin

Convergence, Creativity And Re-Purposing: The Role Of Mixed-Use Projects In Driving The Recovery Of Cities Around The World

Goodwin on

While significant challenges from COVID-19 continue to be felt in city centers around the world, the quote from Mark Twain seems applicable to cities in this moment: “The reports of my death are greatly exaggerated.” As...more

Blake, Cassels & Graydon LLP

The Effects of COVID-19 on Hotel Financing

Blake, Cassels & Graydon LLP on

The global COVID-19 pandemic has particularly affected the hospitality industry. To address some of the issues arising from the COVID-19 pandemic, hospitality industry participants have been forced to revisit the terms of...more

Farella Braun + Martel LLP

Hospitality Companies and Their Lenders: Preparing for Difficult Conversations

Farella Braun + Martel LLP on

In a sudden reversal of generally expansionary trends, the hospitality business has been among the most immediate and badly hit economic sectors as a result of the COVID-19 pandemic, and the resulting stay-at-home and shelter...more

White and Williams LLP

Looming Hotel Bankruptcies Impact Loan Workouts

White and Williams LLP on

COVID-19 has been devastating for hotels and other businesses in the hospitality industry because of significant business closures and the elimination of recreational travel. Oxford Economics predicts 2.8 to 3.4 million jobs...more

Katten Muchin Rosenman LLP

What Lenders are Thinking as They Assess Distressed Hotels - Given the uncertainty and dwindling cash flow, lenders in the sector...

Katten Muchin Rosenman LLP on

By now it’s no secret that the spread of COVID-19 will likely continue to significantly curtail travel. As airlines suffer, so too will hotels. For lenders, cancellations and reduced bookings will mean reduced cash flow...more

Butler Snow LLP

Curing Default in Chapter 11 Bankruptcy May Require Debtors to Pay Default Interest to Secured Creditors.

Butler Snow LLP on

The Ninth Circuit Court of Appeals recently took up the issue of a Chapter 11 Debtor’s requirements to cure a loan default through its Chapter 11 plan. The result was a ruling that overturned previous law that entitled...more

Davis Wright Tremaine LLP

1st Circuit Limits Secured Lender’s Right to Post-Petition Interest by Applying Flexible Standard

Davis Wright Tremaine LLP on

In an important decision for lenders, the 1st Circuit Court of Appeals recently decided In re SW Boston Hotel Venture LLC, holding that a bankruptcy court was right to give a lender a claim for post-petition interest...more

King & Spalding

U.S. Bank, Nat’l Ass’n v. Lightstone Holdings, LLC (N.Y. App. Div. Feb. 14. 2013) -- Senior Lender Gets Second Chance to Assert...

King & Spalding on

A recent decision in the protracted litigation by lenders of Extended Stay to recover under guaranties executed by owners of Extended Stay highlights the need for clear and unambiguous drafting in intercreditor agreements....more

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