CorePoint Lodging draws $110 million from revolver to lift liquidity

By Marisa Wong

Los Angeles, April 9 – CorePoint Lodging Inc. said it made a $110 million draw from its $150 million revolving credit facility to enhance its cash liquidity position given the ongoing operational and financial impact from Covid-19.

CorePoint made the draw, representing substantially all of its current availability under the revolver, out of an abundance of caution, according to a press release.

CorePoint is a real estate investment trust that owns midscale and upper midscale select-service hotels primarily near employment centers, airports and travel centers.

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