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News Link • Housing

Hotel defaults, foreclosures rise in California

• LA Times
More California hotels are being pushed into foreclosure as tourists and businesses alike scale back their travel plans and owners are unable to pay their mortgages.

Statewide, more than 300 hotels were in foreclosure or default on their loans as of Sept. 30 -- a nearly fivefold increase since the start of the year, according to an industry report released Tuesday.

The list of troubled properties includes the St. Regis Monarch Beach in Dana Point, the downtown Los Angeles Marriott, the Sheraton Universal and the W hotel in San Diego.

1 Comments in Response to

Comment by Frosty Wooldridge
Entered on:

Hotel foreclosures: when you suffer from 10 million legal and illegal immigrants driving Americans out of California, what else did you expect. Until California stops massive and unrelenting immigration, Americans will flee in ever greater numbers.  Your final result will be like Detroit, Michigan.  A kind of no man's land with every speaking different languages from different countries and no one is an American. 

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