Innkeepers USA Prepares Bankruptcy Filing | wsj.com

Innkeepers USA Trust, a real-estate investment trust that owns more than 70 midmarket hotels, is preparing to file for Chapter 11 bankruptcy protection in the coming days, said people familiar with the matter. Innkeepers could file for bankruptcy as soon as Monday, two of these people said, though the exact timing remained in flux. The hotel company, laboring under more than $1 billion in debt, holds interests in 73 extended-stay hotels and other properties operated under brands such as Hampton Inns, Courtyard by Marriott and Embassy Suites. The hotels are spread across 19 states and Washington, D.C.