"The supply of new hotels is slow and concentrated among a few major groups across every country in Asia," said Andrew Langdon, chief development officer for Asia at Accor. Mr Langdon said small family companies, which comprise the majority of hotel developers, lack financing from banks. It has become more difficult for them to access loans during the past 2-3 years, compared with prior to the pandemic. Only large conglomerates with a strong cash flow and relationships with banks are likely eligible to receive financing, he said.
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Mogul Capital puts breaks on 400-room dual hotel in Santa Clara - Utah firm secures two-year extension on split short-term and long-term project
Mogul Capital has pulled back on its plan to build a 396-room hotel in Santa Clara. The Utah-based hotel developer, after citing a slow bounceback in the hotel business and local tourism since the pandemic, won a two-year extension on permits to build the six-story hotel at 1240-1290 Coleman Avenue and 312 Brokaw Road, the Silicon Valley Business Journal reported.
