South Florida's Biggest Hotel Sales in 2020
Shelborne South Beach and Seagull Hotel (Shelborne, Google Maps) The hotel market was among the hardest hit sectors of the coronavirus pandemic in 2020, resulting in many owners scrambling to survive. After many hotels laid off the majority of their staff in March and subsequent months, a number of properties remained closed until the winter. And some have yet to reopen, as domestic and international travel remains low. In South Florida, the pandemic led to forbearance agreements with lenders, some foreclosure filings, new equity investors, out-of-court UCC foreclosures, merging of ownership,...
Source: therealdeal.com