Hotels

Apollo and VICI Properties' $6.25bn purchase comes from a distressed situation but the asset itself was by no means sold at distressed pricing.

Hotels have the chance of returning to pre-covid performance levels, but only if their capital base is properly restructured now, argues Eric Assimakopoulos, founder of Revetas Capital.

The Boston-based manager's equity haul included $500m in commitments from new investors all finalized during the covid-19 pandemic.