Eagle Hospitality Avoids Foreclosure, Reaches Compromise With Blackstone

The Wall Street Journal reported this week that Eagle Hospitality Trust and Blackstone Group struck a deal to avoid foreclosure on 13 upscale U.S. hotels.  Eagle owns the 13 properties, which include the Cincinnati Landmark Marriott, and Blackstone holds the debt. Rather than proceed with foreclosure, Blackstone has agreed to accept an undisclosed amount as […]

Battle Over Major U.S. Luxury Resorts

An article in the Wall Street Journal this week highlights a developing battle for ownership of four giant U.S. luxury resorts. Singapore’s sovereign-wealth fund, a creditor in the bankruptcy case involving the four resorts, is forcing an auction of the properties by year-end — against the wishes of the current owners: a group led by […]

Hotel Lenders Avoid Foreclosures

Bloomberg reports that lenders are doing more to avoid foreclosing on loans secured by hotel assets than any other other type of commercial real estate, as $17.5 billion in securitized hotel loans come due in the next two years in the U.S. Since the start of 2008, 53% of distressed hotel loans have been worked […]