Tighter lending standards from regional banks are making it harder for U.S. hotel developers to secure funding, slowing construction of new hotels at a time Americans' appetite for travel is ripe.
Hotel developers, private equity firms, and general contractors told Reuters the financial stress on regional banks -- the largest lenders to hotels and other commercial real estate markets -- has forced developers to postpone projects or find other creative ways to raise capital.
Following the collapse of Silicon Valley Bank in March, California developer Shopoff Realty Investments paused construction of Dream Las Vegas, a 21-story hotel and casino resort, and said the firm was trying to secure more financing.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BTC, ETH and XRP Price Analysis for June 3Can BTC and ETH show the same rise as XRP? XrpYoyo ANT159694954 nuonrg WillyWonkaXRP RippleXrpie crypto Ethereum ETH $ETH cryptoexchange VitalikButerin ethereum
Read more »
L.A. on the Record: Asian Americans and the L.A. voteA new UCLA study says that Asian Americans, now the third-largest racial group in the city, have a ways to go when it comes to getting adequate representation.
Read more »
DOGE Price Analysis for June 3Can DOGE follow the rise of other coins? kawaii_crypto JRossNicoll ummjackson coinok
Read more »
Survey: Family Time ‘One of the Most Important Things’ to Most AmericansA strong majority of Americans view family time as “very important” or “one of the most important” things in their lives, “far outranking other personal priorities,” a recent Pew Research Center survey found.
Read more »
No one knows how many LGBTQ Americans die by suicideMost death investigators don't collect data on sexuality or gender identity, so no one knows how many gay and transgender people die by suicide each year in the U.S.
Read more »
Analysis | Senate Republicans once again voluntarily cede their negotiating powerFollowing Minority Leader Mitch McConnell's advice to let House Republicans negotiate for them, Senate Republicans learned the hard way how bad that decision was.
Read more »