Where is the distress?
Year-end 2020 hotel valuations are likely to have shown value drops of anywhere between 10% and 20%, and clearly those assets with the larger falls will be most vulnerable. These distressed situations are most likely to surface in Q2/Q3 2021 when sellers and banks will be under more pressure to ‘meet the market.’ Meanwhile banks will no doubt be identifying which of their problem non-performing loans need to be placed in the market sooner rather than later. Contributed by Tom Oakden, managing director, Hilltop Hospitality Advisors, London Acore Capital has recently raised an institution backed fund of US$1 billion to…
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