Hotel developers, private equity firms, and general contractors told Reuters the financial stress on regional banks -- the largest lenders to hotels and other commercial real estate markets -- has forced developers to postpone projects or find other creative ways to raise capital.
Following the collapse of Silicon Valley Bank in March, California developer Shopoff Realty Investments paused construction of Dream Las Vegas, a 21-story hotel and casino resort, and said the firm was trying to secure more financing.
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