COVID has significantly impacted leisure and business travel and the hotel industry. Regardless if your expectations are that the crisis will lead to long-term changes to the industry or, alternatively, that there will an eventual return to the old normal, in the short to medium term the effects of COVID will be profound: travel has plummeted and most hotels are shut.

The unique nature of the COVID-19 crisis and its impact on the banking sector calls for an innovative response that balances the needs of the general populace, customers, and shareholders. That being said, while all parties have a vested interest in seeing strong economic recovery through the resolution of distressed loan situations and the continuation of the provision of credit, the desired means through which these ambitions are achieved will inevitably lead to divergent trains of thought.