Tag: Westbridge Hospitality Fund
Red Roof Inn Defaults On Property Loans, Claims Ridiculous Reason For Default
Red Roof Inns defaulted on $367 million of mortgage debt recently. Fortunately this is only affecting 1/3rd of the Red Roof Inn properties, but ironically – its all the company owned properties. And one of the reasons for default is so ridiculous I think it’s a ploy to convince the banks to refinance their loans with better terms.
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