NEW YORK CITY—Although the month-to-month drop in CMBS delinquencies overall to 5.13% was the smallest in more than a year at three basis points, securitized hotel loans did considerably better than that. The lodging sector saw its rate of late-pays on CMBS decline by 17 bps from March to 5.18%, Fitch Ratings said last week, with the $90 million in resolutions outpacing the $50 million in new delinquencies.

The reduction in the hotel CMBS delinquency rate appreciably narrowed the gap between the lodging sector and retail. Still the best-performing sector with just 5.11% of Fitch-rated loans overdue by 60 days or more, retail’s delinquency rate declined by only four bps from March.

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