JPMorgan Chase & Co. and Wells Fargo & Co. are seeking to increase financing for hotels as lenders recover more money from loans backed by lodging than from debt secured by other types of commercial real estate.
Lenders’ losses on non-performing hotel loans were about 53 percent this year through September, compared with 63 percent for retail property loans, 62 percent for industrial, 61 percent for multifamily and 57 percent for office, according to data from Trepp LLC, a New York-based mortgage-information provider. The figures exclude loans with losses of 2 percent or less. Read More:
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