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The hotel investment narrative since March is one of dried-up bank lending, and the only deals getting done are ones that were underway since well before the pandemic began.
But money appears to be trickling back into the hotel sector, including one fund with backing from retired baseball great Alex Rodriguez.
“It’s going to be selective,” said Richard Clarke, a senior analyst covering global leisure and hotels at Bernstein. “If the business case is very strong, then you have been able to get these projects approved.”