Entries Tagged as ‘Hotel Foreclosure’

January 8, 2010

California Hotel Foreclosures Quadrupled In 2009 On Travel Drop

Hotel foreclosures in California more than quadrupled last year as business travelers and vacationers cut spending and commercial real estate values plunged, forcing owners into default. There were 62 foreclosures on hotels in the state last year, compared with 15 in 2008, Irvine, California-based Atlas Hospitality Group said in a statement. Properties in default jumped [...]