Luxury hotel group Ashford Inc. has received a staggering $59million intended for small firms, while its boss Monty Bennett (pictured) has pocketed millions in dividends The luxury hotel group that owns Marriott Beverly Hills and the Ritz Carlton in Atlanta and is ran by a major Donald Trump donor has been named as the biggest beneficiary of the coronavirus loan program receiving a staggering $59million intended for small firms, while its boss has pocketed millions in dividends during the pandemic. Ashford Inc., a hospitality real estate business with several subsidiaries, has already received $30million in loans from the US Paycheck Protection Program set up by the federal government to help small businesses keep paying their workers and bills. This is the biggest sum received by any public company from these loans and is around eight times the average amount granted to firms, according to analysis by the Wall Street Journal. Public filings show that the group’s subsidiaries also took home $12.8 million in loans and subsidiaries of affiliate company Braemar Hotels & Resorts have been granted $15.8 million. This comes as CEO and chairman Monty Bennett, known for keeping exotic and endangered animals on his Dallas ranch, and other major shareholders including… Read full this story
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REVEALED: Luxury hotel group Ashford Inc. is biggest beneficiary of PPP with $59MILLION after exploiting loophole to net SIX times the maximum payout - while laying off 95% of its staff and paying CEO MILLIONS in dividends have 240 words, post on www.dailymail.co.uk at April 23, 2020. This is cached page on X-Buy. If you want remove this page, please contact us.