Hospitality Property Trust (HPT) is considering selling 53 hotel properties after posting losses for the fourth quarter (Q4) of 2010.
The US-based real estate investment trust is to sell its Marriott and InterContinental-branded hotels to pare its losses.
HPT said it is negotiating with hotel chains including Marriott and InterContinental Hotels Group to modify some contracts, which have fallen short of their minimum rental agreements with HPT, according to bizjournals.com.
HPT reported a loss of $100.4m during Q4 2010, compared with a profit of $25.5m for the corresponding quarter in 2009.
The company recorded a revenue of $267.8m for Q4 2010.