Defaults mount for Eagle Hospitality Trust

Singapore

IT DOESN'T rain but pour for the beleaguered Eagle Hospitality Trust (EHT), as it announced more defaults and legal proceedings. It also updated that the total liabilities incurred by the master lessees in respect of its properties are US$50.7 million.

In a filing to the Singapore Exchange on Sunday night, the managers for EHT - comprising Eagle Hospitality Reit (EH Reit) and Eagle Hospitality Business Trust - made five announcements.

First, it said it had received additional notices of default by certain master lessees under the hotel management agreements. It had also received notices by certain master lessors for repayment of key money. These arose from fail…

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL