Highland Hospitality is thought to be close to filing for Chapter 11 bankruptcy, according to reports, as talks take place with creditors over its $1.8bn (£1.2bn) debt.
The US group, which owns 27 hotels, counts Blackstone Group, Barclays and Wells Fargo amongst its creditors. It is owned by JER Partners, the private equity investment arm of J.E. Robert Companies, which acquired the group for $2.1bn in 2007.
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