Providing insight on the hospitality sector's varying debtsolutions in relation to the current, on-going crisis, Alan Cohen,chair of Akerman LLP's real estate finance practice and co-officemanaging partner of the firm's New York office, recently connectedwith GlobeSt.com to answer a few questions regarding paymentoptions within the hotel landscape.
Are lenders permitting deferred payments from certainhotel borrowers in order to withstand the crisis and generateincome to pay debt service?
We are all well-aware that the current slowdown is vastlydifferent from that related to the Great Recession. Uponthe onset of the COVID-19 pandemic, almost overnight, peopleisolated themselves in their homes, travel and tourism ceasedstaying at hotels became a non-viable option.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
