Eagle Hospitality Hits the Reset Button on Its Master Leases

News about Eagle Hospitality Trust

Eagle Hospitality Trust is sending notices of termination to all its master lessees, on all its 18 properties:

The "pay/perform or quit" notices, issued on Sept 17, implied that the master lessees should pay the outstanding rent and/or perform the defaulted non-rent obligations within a deadline of between three and 15 days, or they should "peacefully vacate" and surrender the property.

The trust, which is exploring ways to inject new capital to restructure its operations, has now only 3 properties open.

Eagle Hospitality Trust
Price0.137 USD
NAV0.809 USD
Yield (4 quarters)20.64%
Gearing37.6%