A recent tailwind blast for the CMBX 9 shorts came from a September report from NorthStar according to which, without aid 74% percent of US hotels said they expect to lay off more employees, with a whopping two thirds of properties warning they won’t be able to last another six months at the current projected revenue and occupancy levels. Needless to say, should two-thirds of the US hotel industry fold, shorting the CMBX S9 BBB- could well be the most profitable (institutionally sized) short in recent history when the Fed has effectively made shorting impossible.
https://www.zerohedge.com/economics/time-go-all-big-short-30-80-new-york-hotels-verge-collapse
