• Eagle Hospitality gets US$35m default loan notice

    One year ago - By Travel and Tourworld

    The managers of Eagle Hospitality Trust said that they have received a notice of default and demand for payment in relation to another loan, while also disclosing that some of its hotel managers have served its sponsor with termination notices.
    Under a US$35 million mortgage loan, the lender Wells Fargo National Association sent an April 18 notice identifying multiple events of default. Wells Fargo had provided the loan on May 21, 2019, in respect of Delta Hotels by Marriott Woodbridge, one of Eagle Hospitality Trust ‘s 18 hotels.
    The events of defaults included the non-payment by the...
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