Tuesday, May 11, 2010

Foreclosures take smaller bite out of Orlando hotel market

As Central Florida struggles with some of the highest home-mortgage delinquency rates in the nation, local hotel owners appear to be doing a better job than their peers elsewhere at keeping their properties out of trouble with lenders.

Even after a year of poor occupancy and revenue-robbing discounts, a relatively small number of hotels are behind on their payments in this, the nation's second-largest hotel market, according to a New York company that tracks commercial-mortgage activity.

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