Hotel lenders conservative but open

from HNN (1/16):

Lenders conservative as capital trickles
16 January 2009 10:08 AM
By Patrick Mayock

"INTERNATIONAL REPORT—Despite a slowdown in capital markets across the globe, the spigot for hotel lending has not dried up completely. The right deals are still getting done, though the parameters in which they’re completed have become considerably more conservative.

“Deals are still being done,” said Rod Taylor, head of Hospitality & Tourism for Europe Arab Bank. “We need to keep this in mind. Banks are lending, (but) they’re not doing as many transactions. They’re being much more choosy in what they would do.”

That “choosy” standpoint reflects a shift in the lender mentality, he added. Whereas lenders used to proactively look for good deals, they’ve now taken a more reactive stance and let the deals come to them." ...

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