Zero Applications After NYC Passes Hotel Special Permit Rule therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
Zero Applications After NYC Passes Hotel Special Permit Rule therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
As the world faces economic uncertainty, rising costs, and inflation, the tech scene in Israel offers optimism and relief. Lee Saunders of Nishlis Legal Ma
Oaktree Capital Management CEO Jay Wintrob and Ashford Trust CEO Rob Hays (iStock)
The price is high, but one of the nation’s largest hotel investment trusts will live to be hospitable another day.
Ashford Hospitality Trust secured a $350 million loan facility to see it through the pandemic, which has decimated the travel and leisure industry. It will pay 16 percent interest in the first two years and 14 percent in the third, plus exit fees that could bring the total payback cost to nearly $600 million.
With a national vaccination effort underway, Oaktree Capital Management agreed to supply Ashford, owner of more than 22,500 hotel rooms, an initial $200 million and up to $150 million more, according to a disclosure statement filed with the Securities and Exchange Commission.