Latest news: Gaw Capital defaults on loan; US hotel profits grew; Sonder-Marriott deal

Big fire at trendy London hotel. Burning wood falling from a
pizza oven set off a serious fire at Andre Balazs’ Chiltern Firehouse hotel in
London on Valentine’s Day. No injuries were reported as 100 guests were evacuated,
but the 26-suite hotel sustained significant damage and will be closed for the
foreseeable future to undergo a large refurbishment. Flames spread through the
ducts through the first three floors of the property.

Gaw
Capital defaults on loan. Los Angeles-based Gaw Capital USA, a unit of Hong Kong-based Gaw Capital
Partners, has reportedly defaulted on a $100 million loan secured by the 500-key Oakland
Marriott City Center. Gaw Capital USA skipped one or more payments for the loan
tied to Oakland’s largest hotel, according to the San Francisco Business Times.
Paris-based Natixis lent Gaw Capital USA $80 million in 2017,…