NYC Hotel Market: Hotels Defaulting? | istockanalyst.com

GlobeSt.com recently published some quotes from a seminar they held in early June on the hospitality market. The outlook voiced was sobering to say the least. Richard Warnick of the eponymous Warnick + Co., a hospitality advisory company, said "Up until this point in time, most of the defaults have been technical defaults. We're now moving rapidly into significant monetary defaults on loans.