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Linda Spring, the hotel owner, is abducted by a masked figure inside the hotel. The act signals that something deadly is at play within the seemingly quiet inn. This opening crime sets the tone for the violent events to come.

The Keenan family—Roy, Elaine, Kevin, and Taylor—decide to spend the weekend at the hotel after Taylor’s alcohol theft is discovered. They drive there together, hoping for a respite from their troubles. The trip ties their fate to the hotel’s deadly game.

Upon arrival, Mr. Lockwood explains the hotel has no internet and that cameras are installed around the building. The surveillance setup foreshadows the live-streamed murders that will unfold. The guests become potential players and spectators in a sinister experiment.

Taylor meets Theo and Louis at a bar, hinting at danger beyond the hotel walls. Elaine catches her daughter and orders her back, increasing family tension. The outsiders will be drawn into the night’s events.

In the hotel’s basement, Linda is murdered by a plague-doctor killer wielding a power drill. The brutal act confirms the killer’s presence and the danger stalking the guests. The murder ratchets up the fear inside the hotel.

At night, Lockwood triggers a lockdown and releases four masked killers—Player One, Two, Three, and Four—into the hotel. A security guard is kidnapped as part of the chaos. The building becomes a deadly stage as the attackers begin the live murders.

As Roy and Kevin search for Taylor, Elaine is murdered by Player One in the couple’s hotel room. The family’s sense of safety collapses as the killings escalate. The room’s discovery intensifies the need to understand who is behind the mask.

Roy teams with retired police officer Bernard Davidson to uncover what is happening. They witness the murders live-streamed on screens and observe audience members bidding on the killers. Kevin is kept locked in a room, increasing his peril and isolation.

One victim escapes and is pursued by Player Three. The escapee fatally stabs Player Three with a fork in the neck, then is killed by Lockwood. The brutal turn shows how the game rewards ruthlessness and deception.

Theo and Taylor manage to escape the hotel briefly, but Theo is impaled and killed by Player Two on their return. The outsiders suffer a brutal fate as the killers expand their reach. The chaos intensifies as more victims fall.

Bernard betrays Roy during the upheaval and allows him to appear to be killed by Player One. The alliance fractures add a human dimension to the deadly game. The tension builds toward a final confrontation with Lockwood.

Bernard infiltrates Lockwood’s control room, revealing himself as a former player who wanted to win his own way. Lockwood reveals he knew the truth all along and kills Bernard with a power drill. The mastermind’s omniscience is confirmed as the chaos continues.

Roy, disguised as Player One, confronts Kevin with a fiery trap on Player Two. They return to the lobby to confront Lockwood, but Taylor arrives and kills Roy, mistaking him for one of the murderers. Taylor then beheads Lockwood, ending the live operation.

Taylor and Kevin are interviewed by Detective Hart in an ambulance, while the stream watchers are shown to have declared them winners. Lockwood hypes a new season for his audience, hinting at a continuing horror. The ending blurs the line between reality and televised violence.

In the mid-credits scene, another Stream event unfolds at the Atrium movie theater. Sofia is involved as the plague-doctor mask wearer identifies himself as 'Lockwood' and prepares to use the electric chair on an older man. The tease suggests the stream’s cycle of violence may continue.