Hotels

KAR Properties is monitoring all data in regards to the unraveling of some of the sectors of the economy and the reaction to the coronavirus pandemic, also known as COVID-19, and its tenants in the ability to honor lease agreements and meet rental payment guidelines.

Under the scenario Trepp used, the cumulative default rate across commercial mortgages overall will rise to 8%, up significantly from the current 0.4% default rate.

In addition, the REIT states that several planned portfolio sales will likely be delayed until later this year or next year due to the lack of financing available for hotel transactions.

Grace Bay Resorts, a multi-disciplined real estate firm with proprietary condo-hotel management and development divisions, is looking at each part of the business differently to navigate the effects of the coronavirus, also referred to as COVID-19, Mark Durliat, CEO at the firm, tells GlobeSt.com.

Driftwood's investors are active, high-net-worth investors.

CEO Mark Hoplamazian and Chairman of the Board Tom Pritzker are forgoing 100% of their salaries, and Hyatt's senior leadership team is taking a salary cut of 50% through the end of May.