COVID-19: Collateral pain | Bankruptcy risk for Greek hotels

Convention travel drop jeopardizes municipal bonds A steep drop in business travel has cast a shadow over hotels that cater to conferences and conventions. That, in turn, could crimp the budgets of cities that used bonds to finance the construction of the hotels with the hopes of attracting more visitors. Experts say the industry can withstand a downturn of a month or two, but that a longer delay could hamper financing for construction projects in development. More from the New York Times Some 65% of Greek hotels may face bankruptcy A study by the Hellenic Chamber of Hotels found that…
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