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Innkeepers USA Trust Accuses Wyndham International of Unsatisfactory Performance

PALM BEACH, FL-The locally based investment group advises shareholders of ongoing discussions over terms on at least one of the seven hotels Wyndham International leases as a Summerfield brand. Wyndham couldn't be reached for comment. Palm Beach is 64 miles north of Miami.

By David R. Corder | Updated on March 14, 2001

PALM BEACH, FL-Locally based Innkeepers USA Trust is advising shareholders that Wyndham International Inc. didn’t meet minimum performance obligations during 2000 on at least one of seven hotels the Dallas-based hospitality company leases from the self-administered real estate trust.

Wyndham couldn’t be reached for comment at GlobeSt.com’s publication deadline. Innkeepers didn’t identify the properties involved.

“Discussions are ongoing with Wyndham about the performance issues, certain capital expenditure and maintenance obligations, the new law on taxable REIT subsidiaries and related matters,” the trust reported in an annual report filed this week with the Securities and Exchange Commission.

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