Hotels provide office space as losses mount

The InterContinental Times Square and other hotels in New York City have joined others across the US in offering office space amid tourism and occupancy declines. A total of 11,000 hotel rooms were leased for use by medical workers between April and July, and more than 60 hotels rented rooms to homeless people, but 44 hotel loans backed by $1.2 billion in bonds were delinquent as of September. Read The Real Deal online story here

 

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