Spencer Fane attorney Jason Kathman was featured in a Dallas Business Journal article covering the recent bankruptcies of two hotel entities with ties to North Texas.
Titled “Roanoke-based Newstream Hotels files for Chapter 11,” the article discusses the groups of hotels that were impacted by the reduction in travel during the pandemic, resulting in bankruptcy. “The goal is to restructure and fix their balance sheet and then restructure their loans with their secured lenders,” Jason explained in the article.
In explaining the broader effect of bankruptcies on the hospitality industry, Jason explained that while there hasn’t necessarily been the explosion of filings many expected, he expects the number of filings in the industry to grow as investors increasingly pressure lenders to forego further forbearances, and the COVID-19 Delta variant continues to hamper occupancy rates.
To read the full article, please click here.