Eric Goldberg Quoted in Reuters on Hotel Owners’ Pressure to Service Loans amid Decreased Leisure Stays and Increased Costs

Co-Chair of Olshan’s Real Estate Law Practice Eric Goldberg was recently quoted in a Reuters article about how U.S. hotel owners could experience increased pressure on their ability to service the loans backing their properties owing to a decline in leisure stays coupled with rising costs for labor, energy and insurance. Rising insurance rates, particularly for hotels in areas most exposed to climate crisis and specifically for hotels along the coast of Florida, are expected to be especially burdensome for hotel owners. “It would not be a surprise,” Eric said, “if every hotel owner on Miami Beach is facing not just an increase in hurricane, flood and wind storm insurance premiums, but at a multiple of 2-3x.”