The Effects of Securitization, Foreclosure, and Hotel Characteristics on Distressed Hotel Prices, Resolution Time, and Recovery Rate
Published online on April 11, 2016
Abstract
This study investigates the effects of securitization, foreclosure, and hotel characteristics on the sale prices of distressed hotels as well as their influence on resolution time and recovery rate. Using a sample of 4,763 financially distressed hotels between 2010 and 2014, this study provides evidence that hotel size, securitization, foreclosure, and disposal methods are important predictors of distressed property prices, resolution time, and recovery rate.