Ashford Trust Plans To Hand Back Keys for 19 US Hotels

Dallas-based real estate investment trust Ashford Hospitality Trust plans to hand back the keys for 19 hotels after failing to meet debt yield tests on maturing loans.

All of the hotels sat in three pools of commercial mortgage-backed securities loans that matured in June, and company officials believe the required $255 million in paydowns to extend loan terms would represent “negative equity value,” according to a statement the company released late Friday. Ashford Trust had marketed several of the hotels they now plan to hand back to lenders but did not accept any bids above the amount owed on the properties.

“The company has been in discussions with the lenders on these loan pools seeking modifications to the extension tests, but at this time, it appears that the most likely outcome will be a consensual transfer of these hotels to the respective lenders,” the news release states.

Ashford Trust officials

California hotel workers on strike demand higher wages and a chance to live closer to work

ANAHEIM, Calif. — A second wave of hotel strikes is hitting Southern California this week.

Hotel workers and labor organizers have been striking and demanding higher wages and other benefits as they argue their existing salaries are unsustainable amid the region’s high cost of living and rent, making commutes and buying basic goods unsustainable.

Irene Andrade, 53, has worked as a housekeeper at the Sheraton Gateway next to Los Angeles International Airport for 17 years. She used to live in nearby Inglewood, but she moved to Ontario in San Bernardino County to be able to afford rent. She said she spends several hours commuting to and from work — she’s on the road at 5 am and gets home around 7 pm, and she hardly gets to see her 7-year-old daughter.

Striking hotel workers holding placards rally outside the Intercontinental Los Angeles Downtown.  Southern California hotel workers are ON STRIKE!  Thousands walked off the job at properties across Downtown Los Angeles and Santa Monica, in an effort to secure higher pay and improvements in health care and retirement benefits.  (Photo by Ringo Chiu / SOPA Images/Sipa USA)(Sipa via AP Images) (Ringo Chiu / SOPA Images/Sipa USA via AP)

Striking hotel workers holding placards rally outside the Intercontinental Los Angeles Downtown. Southern California hotel workers are ON STRIKE!

Unionized LA hotel workers reach deal with biggest employer on eve planned strike

As Los Angeles braces for the largest US hotel worker strike in recent memory, the Westin Bonaventure Hotel & Suites in downtown LA announced it reached a tentative deal for higher pay and benefits Wednesday evening with the union representing its employees.

More than 15,000 union employees at 62 hotels in Los Angeles and Orange counties are scheduled to walk off the job as soon as Saturday after their contracts expire at midnight on June 30. They are seeking higher pay, which might allow them to live in more expensive areas closer to their jobs, as well as improved benefits and working conditions.

The Bonaventure deal is the first among many that will be needed to avert the planned strike. According to Unite Here Local 11 co-President Kurt Petersen, workers are slated to ratify the deal in the coming days and the agreement will set a standard for other hotels

Thousands of Southern California hotel workers begin strikes

Just as the July Fourth holiday weekend got into high gear, thousands of hotel workers in Southern California began striking Sunday morning seeking to negotiate a contract with higher wages and other benefits, according to the union representing the workers.

Members of UNITE HERE Local 11, which says it represents more than 32,000 hospitality workers in Southern California and Arizona, are striking at more than a dozen hotels throughout Los Angeles and Santa Monica after their contract expired just after midnight, according to posts on the union’s Twitter page.

Participants include cooks, dishwashers, servers, front desk workers and room attendants, the union said in a news release. A union representative said Friday that the contract covered about 15,000 workers at 65 hotels.

The union’s key demands include a $5-an-hour wage increase, access to affordable family health care benefits and stronger workplace protections.

Striking hotel workers rally outside the Intercontinental Hotel after walking off their jobs in Los Angeles on July 2, 2023.
Striking hotel workers rally outside the Intercontinental

Hotel mogul Alex Langsam enjoys record profits as Braverman grapples with migration

Britannia was named the worst hotel chain for the tenth year in a row in November. A survey by consumer groups which found respondents referring to the company’s properties as “tired and tatty”, with a “rough and ready” feel.

Accounts filed last week for the year ending Mar 31, 2022 revealed turnover of £118m. The pre-tax profit made during the period beat the previous record high of £33.3m generated in 2016.

“This result represents a return to performance levels comparative to pre-Covi 19 achieved during a period of difficult trading conditions which continued to limit opportunities for growth,” the accounts read.

In recent months, Britannia has added one-time upmarket hotels in the likes of Scarborough and Bradford to its portfolio.

The business was founded in 1976 when Mr. Langsam bought a 100-bedroom hotel in South Manchester, The Country House Hotel. Expansion was turbo-charged in 1982 when British Rail sold Mr

Windsor area hotels sell out amid busy event weekend

A number of events are happening across the region this weekend, including the Taylor Swift concert in Detroit, Poutine Feast at Festival Plaza and Strawberry Festival in LaSalle causing a sell out of inventory for Windsor area hotels.

Gordon Orr, CEO, Tourism Windsor Essex Pelee Island says this is a good problem to have.

“Events such as the Taylor Swift concert or conferences or swim meets or any sort of event that brings people here, they have the opportunity to experience Windsor-Essex first hand. And then they go back go back and they’re ambassadors for our community and they help tell our story.”

Orr notes that this is the first summer in three years with no COVID restrictions in effect and they are looking forward to having an uninterrupted summer.

He says ‘Art in the Park’ last weekend set the pace with over 20,000 people in attendance, and is

Airlines and hotels face ban on ‘rip-off’ fees in crackdown on hidden luggage charges

Some airlines have ramped up fees on baggage.  (PA )

Some airlines have ramped up fees on baggage. (PA )

Airlines, hotels and online booking sites face a ban on “rip-off” fees for luggage under plans for a crackdown on hidden charges.

Rishi Sunak has said he is worried about booking sites and other online sales companies obscuring the real cost of their services.

He has ordered a review of the way services are sold with the final bill far bigger than the initial estimate in a sales strategy known as “drip-selling”.

The Prime Minister wants to see more price transparency in booking and travel sites and is considering whether regulation is needed to make it easier for customers to shop around, according to The Times.

The travel sector has been singled out for using “underhand” pricing, with car hire companies as well as budget airlines and hotels routinely adding on fees to the advertised price before checkout.

Mr Sunak