Two prominent larger Orlando hotels, not in the Disney corridor, are preparing to file for Chapter 11 protection under the U.S. Bankruptcy Code, industry insiders tell GlobeSt.com on condition of anonymity.

While the hospitality sector generally is suffering nationally and locally, not all of the properties are hurting with the same degree of pain at the booking desk. Smaller hotels are being hit the hardest.

For example, hotels and motels in the 50-room to 75-room category averaged 44% occupancy in October while chain hotels and Disney's 22,000 rooms themselves average 60%. The overall occupancy mark was 53%.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.