Brookfield hotel REIT sues insurers for denying pandemic claims

Hospitality Investors Trust, a hotel investor bankrupted by the pandemic and taken over by Brookfield Property Group, is taking its insurers into court over Covid-related losses. The private REIT, which owns hotels branded by Hilton, Marriott and Hyatt, on Tuesday filed a lawsuit in New York against six insurers over a “sham investigation” meant to delay and deny up to $150 million in coverage “under a broad ‘all-risk’ commercial property insurance,” according to the complaint.