The COVID-19 pandemic has emptied hotels.
Occupancy rates have plummeted. Owners and operators are laying off staff and closing hotels.
Continue Reading Hotels Provide Sanctuary on the Front Lines; Saving Grace in the Time of Crisis
California Executive Order Permits “Commandeering” Hotels
California Governor Newsom yesterday issued an executive order that reserves the right to commandeer hotels and other similar facilities to serve as facilities for dealing with individuals affected with Covid-19.
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Dealing With An Unwelcome Guest – Coronavirus and Operating, Contract and Loan Issues for Hotel Owners and Operators
The Hospitality industry stands on the front lines of the growing concern over the spread of Coronavirus Disease 19 (“Covid-19” or “Coronavirus”). As an industry focused on serving the needs of travelers from varied and often distant locales, in facilities that see significant daily guest turnover, and as hosts to guests for conferences and events, the risks to hotels from the Coronavirus may be particularly acute. The news is filled with daily reports of major conferences being canceled, businesses curtailing employee travel, and individuals reducing personal travel, all of which impacts hotel operations and performance. Following is some advice for hotel owners and operators to consider in these circumstances:
Mechanics Lien Subordination: Illinois Further Limits Construction Lenders’ Ability To Ensure Priority Against Mechanics Liens
On July 16, 2014, Illinois enacted Public Act 98-764 (Senate Bill 3023) (“SB 3023”), which amends the Illinois Mechanics Lien Act (770 ILCS 60/ et seq.) (the “Act”) to prohibit subordination of mechanics liens on Illinois construction projects, unless such subordination is to a construction mortgage lien made after 50% of the construction loan has been disbursed to fund construction costs.
Continue Reading Mechanics Lien Subordination: Illinois Further Limits Construction Lenders’ Ability To Ensure Priority Against Mechanics Liens