Maria Woodis senior editor of Real EstateForum
NEW YORK CITY-Although it is still a good time to be a borrowerwith a lodging property, loan terms have gotten a bit moreconservative. That was the consensus of a group of hotel lendingspecialists who spoke Tuesday at a panel discussion sponsored bythe International Lodging Finance Council. The event took place atthe Westin Times Square hotel.
What has prompted this new conservative tact by lenders is themeltdown in the subprime mortgage industry, which has had anindirect impact on the CMBS market as rating agencies have becomemore cautious, according to Robert Stiles, managing director andprincipal at Sonnenblick-Goldman in San Francisco.
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