Question

Management companies grew rapidly when banks need on-site management after the banks had foreclosed on hotels that were unable to pay their mortgage debts.

A) True
B) False

Answer 1

Management companies grew rapidly when banks needed on-site management after foreclosing on hotels that were unable to pay their mortgage debts.

Step-by-step explanation:

Management companies grew rapidly when banks needed on-site management after foreclosing on hotels that were unable to pay their mortgage debts. This statement is True. When banks foreclosed on hotels, they often needed management companies to oversee the operations and financial aspects of the properties. This allowed the banks to minimize their losses and potentially recover outstanding debts.