May 7, 2021

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Hotel REIT Preps Deal to Give Brookfield Regulate in Personal bankruptcy

Hospitality Investors Have confidence in Inc. is nearing a deal that would hand management of the credit card debt-laden resort operator to Brookfield Asset Management as portion of a pre-packaged personal bankruptcy, in accordance to individuals with knowledge of the subject.

Strike, which owns about 100 accommodations across the U.S., has been having tips from regulation business Proskauer Rose and financial commitment financial institution Jefferies Financial Group Inc. on the restructuring talks, mentioned the people, who questioned not to be determined speaking about private discussions. The real estate investment believe in said in a regulatory filing final week that it was negotiating with Brookfield, its major trader, about a probable Chapter 11 submitting.

Representatives for Hospitality Investors Believe in and Proskauer did not react to a ask for for remark, while associates for Brookfield and Jefferies declined to comment.