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hotel foreclosure

California Hotel Foreclosures Triple in Travel Slump

by Moe Bedard

Hotel foreclosures in California more than tripled in the first nine months of this year as business travelers and vacationers cut spending.
Foreclosures including the 400-room St. Regis Monarch Beach resort in Dana Point climbed to 47 in January through September from 15 a year earlier. Properties in default more than quadrupled to 259, Irvine, California-based [...]

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Number of Hotel Foreclosures, Defaults Increasing

by Moe Bedard

TOURISM: Values Have Declined 50% to 80% in Last 3 Years, Broker Says
The number of California hotels that are in default on their loans or have gone into foreclosure has jumped a whopping 125 percent in the past 60 days.

There were 32 properties in foreclosure and 174 in default, according to a June 28 report [...]

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