• Summit drops 11 Choice hotels

Summit Hotel Properties has ended franchise agreements with Choice Hotels International for 11 hotels in the US.

The REIT said that it was in talks with other franchisors and expected to re-flag the hotels within the next several weeks. The 11 hotels are encumbered by $58.8m of mortgage debt, however, Summit said that the franchise terminations would not be deemed a default under the respective loan agreements.
 
See the full release here:
http://sec.gov/Archives/edgar/data/1497612/000115752311001786/a6664249.htm

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