Publicly traded hotel firms won't give back small-biz loans
April 26, 2020
Three publicly traded hotel companies tied to a Texas businessman said that they would not give back millions of dollars in loans from a government program aimed at helping small businesses.
Facing pressure from the government, several big companies, including the Potbelly and Shake Shack restaurant chains, have said they will return loans they received under the Paycheck Protection Program.
The three hotel companies, Ashford Inc., Ashford Hospitality Trust and Braemar Hotels & Resorts, which are tied to Texas hotel magnate Monty Bennett, have applied for $126 million in loans and received...