Eagle Hospitality REIT Unit Seeks Bankruptcy After Pandemic (1)

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 amid a collapse in travel due to the pandemic.

Both estimated assets and liabilities of the Eagle Hospitality Group were $500 million to $1 billion, according to the filing by Eagle Hospitality Trust S1 Pte, which is fully owned by Eagle Hospitality REIT.

The move adds to signs of mounting strains for the hospitality industry globally as resurgence of Covid-19 infections in many countries clouds the outlook for any sustained recovery. ...