Red Roof Defaults on 4 Mortgage Loans, Realpoint Says | bloomberg.com

Red Roof Inns Inc., the hotel company acquired in a Citigroup Inc.-led buyout for $1.3 billion two years ago, defaulted on four loans totaling $361.4 million, credit rating company Realpoint LLC said. The debt, which is 30 days delinquent, includes a $181.75 million loan and others valued at $76.6 million, $67.6 million and $34.4 million, Frank Innaurato, managing director of CMBS analytical services at Realpoint said.