Los Angeles Times: ‘Tsunami’ of hotel closures is coming, experts warn

Los Angeles Times: ‘Tsunami’ of hotel closures is coming, experts warn. “The Luxe Rodeo Drive is the first high-end hotel in the Los Angeles area to go out of business because of the pandemic, and industry experts point to an unusually high loan delinquency rate among hotel borrowers as a sign that more closures are likely to follow. ‘We know there is a tsunami outside. We know it’s going to hit the beach. We just don’t know when,’ said Donald Wise, a commercial real estate expert and co-founder and senior managing director at Turnbull Capital Group.”

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