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Hotels In Distress: Surviving An Economic Downturn Through Non-Traditional Contracting, Leslie Mckee

Texas A&M Journal of Property Law

The hospitality industry is no stranger to market fluctuation, but with the onset of a global pandemic, 2020 left its mark as the worst year on record for the industry. With vacancy permeating hotels across the nation, hotel owners faced a year of tough financial decisions, while the unrelenting demands of mortgage payments and operating expenses loomed in the background. Uncertainty became the new normal, and the term “unprecedented” became commonplace as the pandemic lingered beyond initial expectations. The one-year anniversary of the 2019 novel coronavirus (“COVID-19”) pandemic passed without effect as the crisis situation spilled over into a new …