Understanding PIP Requirements Can Make or Break a Hotel Investment

Lauren Cicero | December 10, 2021

By Lauren Cicero   NORTHBROOK, IL - December 10, 2021 - Stay-in-place orders, travel restrictions, and cancellations intended to control the spread of COVID-19 caused a severe drop in hotel occupancy and revenue. Even the best marketing has not prevented the most enticing hotels from becoming victims of the pandemic. Famed names like the Renaissance Grand & Suites Hotel in St. Louis, the iconic Fairmont Hotel in San Jose, Washington, D.C.’s century-old Marriott Wardman Park, and The Blakely New York have all fallen into bankruptcy. More hotel bankruptcies may be on the horizon as lenders lose patience with defaulting property...