5 things to know: 26 November 2013
While it’s a great time to be a borrower in the hotel industry, the market hasn’t become overheated … at least not yet, said panelists last week during a general session at the North America Hotel Investment Conference.
HNN’s Ed Watkins reported from the conference that financing is plentiful, especially for hotel acquisitions and refinancing, and even for new development. Rates and terms are also favorable.
“There’s more money in the market today than at any time in the last 30 years,” said Robert Sonnenblick, chairman and principal of Sonnenblick Development LLC. “There’s lots of competition among lenders to make deals.”