Shubh Hotels Files for Bankruptcy

9th September 2010 (Last Updated September 9th, 2010 18:30)

Shubh Hotels Pittsburgh, owner of Pittsburgh's Hilton Hotel, has filed for bankruptcy protection following the termination of a franchise licence agreement by Hilton Hotels. Shubh Hotels Pittsburgh listed a debt of $100m and assets worth $50m in the bankruptcy filing, reports Bloomberg.

Shubh Hotels Pittsburgh, owner of Pittsburgh’s Hilton Hotel, has filed for bankruptcy protection following the termination of a franchise licence agreement by Hilton Hotels.

Shubh Hotels Pittsburgh listed a debt of $100m and assets worth $50m in the bankruptcy filing, reports Bloomberg.

Hilton Hotels terminated its 20-year franchise agreement with Shubh Hotels and withdrew its brand from the property.

Shubh Hotels acquired the 713-room Pittsburgh property for $28m in 2006.