Sperance, Cameron. "Marriott in Danger of Losing 122 Hotels to Much Smaller Brand". Skift. (1600992000)September 25, 2020. https://skift.com/...

Service Properties Trust (SVC) sent Marriott a payment shortfall notice on 122 hotels, allowing Marriott 10 days to pay the $11m delinquency. If Marriott fails to make payment, SVC will terminate the agreement and transfer the hotels to flag affiliation with Sonesta International Hotels Corp., of which SVC owns 34%. The transfer would be the second for Sonesta in less than a month, after taking on 103 IHG hotels. The failure of IHG to make an $8.4m payment on guaranteed property returns to SVC sparked agreement termination.

Posted on 24/03/21

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