Two prominent larger Orlando hotels, not in the Disney corridor,are preparing to file for Chapter 11 protection under the U.S.Bankruptcy Code, industry insiders tell GlobeSt.com on condition ofanonymity.
While the hospitality sector generally is suffering nationallyand locally, not all of the properties are hurting with the samedegree of pain at the booking desk. Smaller hotels are being hitthe hardest.
For example, hotels and motels in the 50-room to 75-roomcategory averaged 44% occupancy in October while chain hotels andDisney's 22,000 rooms themselves average 60%. The overall occupancymark was 53%.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
