DAYTON — For the second time in seven months, the corporation that owns the hotel building operated as a Baymont Inn and Suites in Fairborn has filed for Chapter 11 protection in U.S. Bankruptcy Court.
The Premier Hotel Group LLC, which owns the hotel building at 730 E. Xenia Drive, estimated both its assets and liabilities to be between $1 million and $10 million in the latest filing on Friday, July 16.
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Monday, July 19, 2010
Appollo’s Innkeepers USA Seeks Bankruptcy Protection
July 19 (Bloomberg) -- Innkeepers USA Trust, a hotel investment company Leon Black’s Apollo Investment Corp. bought three years ago, filed for bankruptcy protection after room revenue fell and debt payments rose.
The Palm Beach, Florida-based company with a stake in 72 U.S. hotels owes more than $1 billion, according to Chapter 11 documents filed today in U.S. Bankruptcy Court in Manhattan. A prearranged plan supported by franchisor Marriott International Inc. will let Innkeeper’s retain its properties as it reorganizes, Innkeeper’s Chief Financial Officer Dennis Craven said.
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The Palm Beach, Florida-based company with a stake in 72 U.S. hotels owes more than $1 billion, according to Chapter 11 documents filed today in U.S. Bankruptcy Court in Manhattan. A prearranged plan supported by franchisor Marriott International Inc. will let Innkeeper’s retain its properties as it reorganizes, Innkeeper’s Chief Financial Officer Dennis Craven said.
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