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Coronavirus

Hospitality Company at Root of Loan Controversy Pivots to Survival Mode Sans Federal Help

Cameron Sperance

Photo Credit: Ashford Inc. leaders touted growth in business lines not directly involved in hotel ownership Thursday. PxFuel

Skift Take

Ashford Inc. wants to tout the strength of its smaller businesses that could benefit from changing guest expectations around health and safety, but it can't ignore the billions of dollars in hotel debt held by two of its associated real estate companies.

The executive behind the trio of hospitality companies that faced intense scrutiny over accepting coronavirus relief funds aimed at small businesses is looking for ways to navigate through a pandemic. Ashford Inc. CEO Monty Bennett made headlines following passage of the $2 trillion coronavirus relief package after it emerged his company along with two lodging real estate investment trusts it advises — Ashford Hospitality Trust and Braemar Hotels & Resorts — collectively received $59 million in Paycheck Protection Program relief funds aimed at small businesses. While initially rebuffing calls to return the funds, saying the individual hotels qualified as small businesses, Benne

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