IHG Loses 103 Hotels In North America To Sonesta After Defaulting On Payments

IHG stopped paying agreed minimum rents to Service Properties Trust (SVC) that owns 103 hotels under InterContinental, Kimpton, Crowne Plaza, Holiday Inn, Staybridge and Candlewood Suites in North America. SVC already threatened to reflag these hotels under Sonesta in July (read more here) if they couldn’t reach an amicable resolution with IHG. These hotels will … Continue reading IHG Loses 103 Hotels In North America To Sonesta After Defaulting On Payments