Hotel REIT takes insurers to court over COVID-19 denials

A real estate investment trust that owns Marriott-, Hilton- and Hyatt-branded hotels has sued insurers for denying up to $150 million in compensation for losses from the pandemic that plunged it into bankruptcy. Hospitality Investors Trust, which has been taken over by Brookfield Property Group, challenges insurers’ claim that their policies cover only physical damage and not business disruption shortfalls.