Publicly traded hotel owners and operators turned to their banks this week, borrowing $5.63 billion to help maintain liquidity as performance data fell across the sector from the effects of the coronavirus pandemic. The borrowings in most cases tapped out the firms’ available credit facilities.
Hotels Turn to Banks for $5.6 Billion in Financial Support
Publicly Traded Companies Tap Credit Reserves as Industry Slows From Coronavirus Outbreak
CoStar News
March 20, 2020 | 1:07 P.M.
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IN THIS ARTICLE
- Companies
- Hilton Worldwide
Accommodation and Food Services