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Service Properties Trust terminates agreements for 122 Marriott hotels

from Business Travel News

Service Properties Trust terminates agreements for 122 Marriott hotels Business Travel News Real estate investment trust Service Properties Trust has terminated the management agreements for 122 hotels with Marriott International, the company announced. The REIT had sent Marriott a notice of payment shortfall in September, and the hotel company had until Oct. 5 to pay the $11 million shortfall to avoid termination. READ MORE

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