Mold continues to take toll on hotels, other commercial real estate

09/21/2004 | American City Business Journals

Mold continues to constitute a prime issue in commercial real estate litigation, and property damage claims stemming from the nasty fungi increased from $700 million in 2000 to between $2.5 billion and $3 billion in 2002, according to the Insurance Industry Institute. In one case, the Hilton had to close the $95 million Waikiki's Hilton Hawaiian Village because of mold problems and spent $55 million to clean the mold up before reopening.

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