Debt Crunch Slams Hotel Projects

Famed Dallas hotelier Atef Mankarios is thanking his lucky stars for Mexico, Panama and Indonesia. While the businessman’s Trevi Luxury Hospitality Group has upscale hotel developments under way in each of those countries, four of his company’s projects in the United States are “on hold” because lending has basically dried up. “We have the equity, but we can’t get the debt,” Mankarios laments. “But, what are you gonna do?”