Hotel owners in New York, Los Angeles, Las Vegas and other cities that count on foreign visitors could be especially vulnerable over their debt loads.
Hotel owners with heavy debt loads are grappling with the prospect the industry could fall into a tailspin from the spread of the coronavirus, leading to a potential uptick in defaults.
The U.S. hotel industry overall had about $300 billion of mortgage debt as of the third quarter of last year, up 7.8% from one year earlier and 14.2% from two years earlier, according to data firm Trepp LLC. New York, Los Angeles, Las Vegas and other cities that count on foreign visitors could be especially vulnerable, analysts say.
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