Also insurance, maybe?

What about their legal requirement to deliver what was paid for?

Good way to trash your reputation.

Just stop accepting new guests and work things out with the techies.

A solution would be to require hotels to carry insurance for this event.

How would it work? If any of the management knew the bankruptcy was pending and were still allowing bookings, they are personally responsible for the costs.

If they can't afford it, they face prison time.

I bet that would fix the issue damn quickly.

> How would it work if hotels are bankrupt? what consequences can you put on a bankrupt company?

Force them sign a special type of insurance, or something else where other companies can temporarily pick up the pieces until the current stays are over. Make the company pay into a fund to pay for that before they get their license to operate the hotel, and make it a legal requirement that the fund needs to be able to cover all the currently active stays for N days. Consequences can be put on the people who run the company, that if they don't fulfill their legal duties they get fines or even prison.

Of course, this is just me brainstorming ideas in two minutes, I'm sure with a proper legal system and actual professionals they could work something out to protect guests and works better than "Sorry, we're bankrupt, you need to leave in one hour or sooner".

From what I can lookup in the US the order it is:

1. Secure creditors (like liens on specific assets)

2. Administrative expensive post bankruptcy

3. Priority unsecured claims like employee wages

4. General unsecured creditors like suppliers and customers

5. Shareholders

I think customers who paid by credit card or have travel insurance might be able to make a faster claim with those as the legal process is slow especially since it involves multiple countries where they do business.

I'm not sure they mean financially, I think they mean protection from being made unexpectedly homeless. There are an array of tenancy laws to prevent this from happening, but they don't seem to cover bankruptcy of hotels.

They IPO'd in 2021 and were worth about 22 billion until Jan 2022. Then a precipitous fall to about 2.2 billion in 2023, 220 million in 2024, and now 22 million.

Time Man of the Year is even worse. That’s like being led up a ladder into a big wicker man.

He's just hoping to be the next Altman.

Sounds like something Michael Malice might say. Or P.J. O’Rourke.

If you haven’t heard of him, check him out in his podcast ‘Your Welcome’, spelling intentional.

Nice track.

You're right - nothing at all, I suppose.

This is unreasonable. In any just society, the bailiffs would be slapping cuffs on the owners of the management company, while the tenants would get notice.

You can't throw someone out of their home without notice because you have a business dispute with some third party.

That's for long term rentals, and what gp describes was already illegal action against against a normal long term tenant . In the UK a tenancy is a property right not just a contract -it's a right to a specific property, not just a contract with a person. So if the tenancy was executed with the consent of the owner, they can't just kick out the tenants even if the management company didn't pay them . That's because the tenants right to the property isn't just via the chain of contracts between them and the owner. For a hotel room or Airbnb, or a lodger, very different rules apply

A good franchise will bring in X million in profits and a bad one will bring in XYZ million in reputational damage.

A good unicorn will bring in XYZ billion[1] in profits and a bad one will bring in XYZ million in reputational damage.

Which is exactly why franchise operators get put through the wringer, while 'pod hotel but with an app' startups get the red carpet treatment.

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[1] Yes, I know that is bullshit, but I'm not an exec, I don't get paid to be wildly optimistic.

Not getting that here, but some images are returning 404 errors. Somewhere, someone is probably trying to scrub the Mariott site manually.

‘A source you trust’ no longer including any of the major booking sites, alas.

You know what we do now? We get the Lonely Planet.

Well yeah but this was a hypothetical about which one you’d actually use. Far better to pick a horse when it comes to earning loyalty status.

> Superior Court Judge Barbara Rouse entered a temporary restraining order, forbidding Estridge and his eight Joy of Movement corporations from selling any assets or real estate. On Thursday, Judge Elbert Tuttle also placed liens on real estate and bank accounts belonging to Estridge and his companies.

But your stuff in the gym's locker aren't the gym's "assets"? Same if you parked your car in some bankrupt hotel's parking lot. Just because it's on some bankrupt company's property, doesn't mean your car is up for grabs by creditors.

The only trouble is that the building probably does count as the gym's assets, so even though your stuff isn't technically frozen, you can't really go in to get your stuff. But if for whatever reason you could (eg. breaking in?), you'd be in the clear to grab your stuff.