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Bloomberg Hotels operators across the country are filing for bankruptcy at a faster pace amid a resurgence of Covid-19 infections that clouds the outlook for sustained recovery. More bankruptcies might be on the horizon as lenders lose patience with defaulting property owners. A unit of Eagle Hospitality Real Estate Investment Trust, which owns a portfolio of corporate, leisure and airport hotels across the country, filed for bankruptcy protection Monday in Delaware amid a collapse in travel due to the pandemic. It followed Marriott Wardman Park in Washington, which filed for court protection from creditors last week, joining the bankruptcies of two hotels in Brooklyn in December and Manhattan’s Martinique New York in September. ....
More hotel bankruptcy filings might be on the horizon as lenders lose patience dealing with defaults. Bloomberg | Jan 19, 2021 (Bloomberg) Hotels operators are filing for bankruptcy at a faster pace in the U.S. amid a resurgence of Covid-19 infections that clouds the outlook for sustained recovery. More may be on the horizon as lenders lose patience with defaulting property owners. A unit of Eagle Hospitality Real Estate Investment Trust, which owns a portfolio of corporate, leisure and airport hotels across the U.S., filed for bankruptcy protection in Delaware on Monday amid a collapse in travel due to the pandemic. It followed Marriott Wardman Park in Washington, which filed for court protection from creditors last week, joining the bankruptcies of two hotels in Brooklyn in December and Manhattan’s Martinique New York in September. ....