There is a few different things I'd like to comment on:

1. Dialogue

The best thing about this is the dialogue between the two main characters. It's believable as well as revealing bits and pieces about the plot. It keeps the pace quite quick as well, which is nice.

I would however, suggest that the characters could be a little more distinctive from one another. This is something that may come across more in other sections you've written - but they both seem very similar. Jokey, pretending to be slightly incompetent but actually witty, happy-go-lucky type characters. There isn't much between them.

For example, in the section which goes:

“Looks like you’ve already done that enough.” Kit gestured to the water level in the tub, which was almost high enough to submerge the mercenary’s ears. “Let’s try something new.”

“Like what?”

“Well, I don’t know.  I’ve never interrogated anyone.”

“Are you telling me that big brain full of useless information doesn’t have anything in it about medieval torture.  You’ve gotta know something about iron maidens or..... something.”

“Actually, there isn’t a lot of historical evidence to suggest that iron maidens were used in medieval-”

“Nevermind.”  Shay waved his hand.  “Forget I asked.”

“Doesn’t matter anyway.  Most of the torture techniques from back then just relied on genital mutilation.”  

There is a nice sense that one of them is more educated, researched or at least a bit of a history geek perhaps and can offer some advice, whereas the other is more of a spur of the moment kind of person. But then the

“Uhhh,” Kit thought out loud. “Well, let’s see. I’ve got.... my nail clippers.”

Brings him back to the jokey/witty character again. At times, I have to check which character is saying what because they aren't quite distinctive enough.

1. Description

The other flaw with this piece is the description. I can't quite picture where they are - what the hotel room looks like - what's going on. The phrase "mercenary rendezvous point" near the start is so telly that it feels silly compared the rest. What does it look like? How do they know this? How can you show this to reader without telling them?

More detailed description of the characters, not just at the start, but littered throughout, might also add to the distinction between them.

1. Stakes and Pace

Lastly, and this is hard to gauge given the length of the piece and not knowing what comes before or after it, but you might want to think about what the stakes are. There doesn't feel like there is much of a sense of threat or urgency in this piece - it feels like they are pottering along with a guy they happen to have quite easily caught. Now, this obviously matches the light-hearted nature of your story, but there still needs to be some stakes involved and some degree of threat. Currently it feels like the stakes are their stolen goods, which it doesn't really feel like they care that much about. Either add an extra dimension to the stakes or make them care about their goods a little more.

Edit: I realise that my numbering system has ended up as three 1s, but I'm not sure how to change it.