Starwood Capital Group is battling a looming default on a hotel portfolio spanning nearly 3,000 keys across 12 states. 
A 2018 CMBS loan for a 22-property hotel portfolio was transferred to special servicer K-Star Asset Management in January for “imminent monetary default,” The Real Deal reported.  
The portfolio contains 2,943 doors across 12 states and 17 cities. The hotels are largely Marriott, Hilton and IHG-branded locations, concentrated in the Midwest, including three in the Chicago area. 
The $265M loan doesn’t mature until 2027, and the borrower, a Starwood affiliate, is current through April on interest payments, but default alarm was sounded due to the portfolio’s fundamentals, which have weakened considerably compared to the time…