New York-Northern New Jersey-Long Island, NY-NJ-PA, was the metropolitan area with the highest value of distressed hotel real estate debt in the United States in April 2023. Distressed real estate loans, or the share of debt which was delinquent or in special servicing, amounted to over one billion U.S. dollars. The hotel sector was severely impacted by the travel restrictions during the coronavirus pandemic. Despite having the second-highest delinquency rates across the different types of commercial real estate, lodging saw a substantial improvement in delinquencies since March 2021, when it almost hit 16 percent.
Value of distressed (delinquent and specially serviced) hotel real estate debt in the United States in April 2023, by metro
(in million U.S. dollars)
Distressed real estate loans include commercial mortgage bank securities (CMBS) in the conduit and SASB universe that are delinquent, in special servicing, or a combination of both.
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CRED iQ. (May 3, 2023). Value of distressed (delinquent and specially serviced) hotel real estate debt in the United States in April 2023, by metro (in million U.S. dollars) [Graph]. In Statista. Retrieved January 08, 2025, from https://www.statista.com/statistics/1389248/value-of-distressed-hotel-real-estate-by-market/
CRED iQ. "Value of distressed (delinquent and specially serviced) hotel real estate debt in the United States in April 2023, by metro (in million U.S. dollars)." Chart. May 3, 2023. Statista. Accessed January 08, 2025. https://www.statista.com/statistics/1389248/value-of-distressed-hotel-real-estate-by-market/
CRED iQ. (2023). Value of distressed (delinquent and specially serviced) hotel real estate debt in the United States in April 2023, by metro (in million U.S. dollars). Statista. Statista Inc.. Accessed: January 08, 2025. https://www.statista.com/statistics/1389248/value-of-distressed-hotel-real-estate-by-market/
CRED iQ. "Value of Distressed (Delinquent and Specially Serviced) Hotel Real Estate Debt in The United States in April 2023, by Metro (in Million U.S. Dollars)." Statista, Statista Inc., 3 May 2023, https://www.statista.com/statistics/1389248/value-of-distressed-hotel-real-estate-by-market/
CRED iQ, Value of distressed (delinquent and specially serviced) hotel real estate debt in the United States in April 2023, by metro (in million U.S. dollars) Statista, https://www.statista.com/statistics/1389248/value-of-distressed-hotel-real-estate-by-market/ (last visited January 08, 2025)
Value of distressed (delinquent and specially serviced) hotel real estate debt in the United States in April 2023, by metro (in million U.S. dollars) [Graph], CRED iQ, May 3, 2023. [Online]. Available: https://www.statista.com/statistics/1389248/value-of-distressed-hotel-real-estate-by-market/
