Atlanta’s Rocky Horde was quoted in an article by The Business Journals discussing the U.S. hotel market's ongoing struggles post-pandemic, including foreclosures and distressed sales.

Rocky noted the increasing pressure on hotel owners to invest in deferred maintenance and upgrades that were postponed during the pandemic. "Those hens are coming home to roost," he said, emphasizing the challenges owners face as lenders demand more equity for refinancing.

Despite significant capital raised for hotel investments, there is a noticeable preference for newer properties, with many buyers hesitant to pay full value for distressed hotels due to anticipated renovation costs. Rocky pointed out that location also plays a huge factor in hotel performance. “If you’re around a manufacturing hub, that’s going to be a driver. If you’re down near the airport, that’s a booming opportunity," he noted. "But in the Perimeter area, it’s a soft office market. What’s the driver?"

To view the full article, click here. Note, this article is only accessible to The Business Journals subscribers.