Posted on August 2, 2009 - by admin

Now in the Bargain Bin: Luxury Hotels

August 2nd, 2009 | No Comments | Posted in Economy, Featured Article, Foreclosure The number of hotels in default in California has shot up 125 percent in the last 60 days and, while the slumping hotel industry is suffering right now, it’s hard to imagine a better time for snatching up valuable luxury properties.Alan X. Reay, founder and president of Atlas Hospitality Group, said California now has 31 hotels that have been foreclosed on with another 175 in default, according to CoStar Group.“

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Now in the Bargain Bin: Luxury Hotels