IHG Bisa Kehilangan 103 Hotel di Amerika Utara Akibat Menunggak Pembayaran

IHG terancam kehilangan 103 hotel yang tersebar di wilayah Amerika Utara akibat menunggak pembayaran sebesar 8,4 juta USD di.bulan Juli kepada Service Properties Trust (SVC).

Selain dari itu, IHG juga memiliki kewajiban membayar sebesar 17,4 juta USD kepada SVC yang akan jatuh tempo pada 1 Agustus 2020.

Jika tidak membayar sebelum 24 Agustus 2020, maka 103 hotel tersebut akan kehilangan afiliasi-nya dengan.InterContinental, Kimpton, Holiday Inn, Crowne Plaza, dan Candlewood Suites pada 30 November 2020.

Berikut sebagian statemen dari SVC:

” Service Properties Trust (Nasdaq: SVC), or SVC, today sent a notice of event of default and termination to.InterContinental Hotels Group plc (NYSE: IHG), or IHG, as a result of IHG’s failure.to pay SVC approximately $8.4 million of required priority return for the month of July 2020. IHG has 30 days, or until Monday, August 24, 2020, to make the payment plus accrued interest to avoid termination of its operating agreements with SVC. The effective date of the termination set in the notice is November 30, 2020. IHG’s priority return payment of approximately $17.4 million is also due on August 1, 2020 and failure to.pay such amounts will be an additional event of default, which would increase the amount IHG is required to pay to avoid termination.

SVC’s agreements with IHG covering 103 hotels (three InterContinental®, five Kimpton® Hotels & Restaurants, 11 Crowne Plaza®, three Holiday Inn®, 20 Staybridge Suites® and 61 Candlewood Suites®) in 30 states in the U.S., the District of Columbia, Ontario, Canada and Puerto Rico require annual minimum returns and rents of $216.6 million and currently expire in 2036. IHG’s $100 million security deposit that SVC held to secure the minimum return payments under these agreements has been fully utilized. SVC has the right to keep the hotels branded and managed by IHG for up to one year post termination to aid in an orderly transition.

Absent a cure payment by IHG, SVC currently plans to transition management and branding of these 103 hotels from IHG to Sonesta International.Hotels Corporation, or Sonesta, primarily under the Royal Sonesta, Sonesta and Sonesta ES Suites brands. SVC owns approximately 34% of Sonesta and would share in the benefit of these.new management agreements and in the hotels’ performance to the extent they ramp up in the post-pandemic recovery.”

Baca juga: Panduan Lengkap IHG Rewards Club

Baca juga: Fast Track – IHG Platinum Hanya Dengan Menginap 5 Malam

Penutup

Apa Implikasi dari statemen ini?

1. Jika IHG benar-benar tidak membayar kewajiban kepada SVC ini hingga 24 Agustus 2020 mendatang, maka.mereka akan kehilangan 103 properti di kawasan Amerika Utara
2. Jika tidak membayar, hal ini berarti mereka benar-benar berada dalam posisi.kesulitan keuangan (financial distress) dan bisa saja mengajukan kebangkrutan

Apapun itu, hal ini merupakan sinyal kurang baik bagi industri perhotelan di Amerika Serikat (atau mungkin dunia).

Jika yang sebesar IHG saja mulai mengalami potensi untuk gagal bayar (default), maka saya tidak bisa membayangkan bagaimana kondisi keuangan hotel yang lebih kecil…

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Apa pendapat Anda mengenai potensi hilangnya 103 hotel IHG di Amerika Utara ini?

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H/T: LoyaltyLobby