Several years ago, Marriott and Schrager teamed up to create a high-end boutique-style chain to rival Starwood's W chain, but the recession had previously led to many hotel deals failing. When the Waikiki Edition opened last October, the owners had expected that they would ride the momentum of other Edition hotels that had previously opened - but their hotel turned out to be the first. The ownership group - M Waikiki - charges that "Marriott lost nearly $3.9 million of owners' money in a mere three months of operation," in part due to cheaper-than-expected room rates. During the hotel's first three months, the Waikiki Edition filled just 29.5% of rooms at an average rate of $220, providing revenue per available room of $65, the suit says. Get the full story at USA TODAY