Democracy Dies in Darkness

Hotel group will return federal coronavirus loans after public scrutiny

Ashford Group criticized ‘inconsistent federal guidance’ on the Paycheck Protection Program

By
May 3, 2020 at 2:30 p.m. EDT
Matt “Kush” Kusher completes a takeout order at his restaurant, Kush, in Miami's Wynwood neighborhood on April 29. He and other restaurant owners denied funds from the first Paycheck Protection Program are hoping for aid from the second rollout to stay in business. (Charles Trainor Jr./Miami Herald/AP)

Another large recipient of federal aid for small businesses is returning the funds, days before a deadline the Treasury Department set for certain borrowers to pay back the money.

The publicly traded Ashford Group, which runs 130 hotels, said it met all requirements to apply for the loans but will return them because “recently changed rules and inconsistent federal guidance” have put the company at risk.