Daily Outrage: More than 300 state resorts in foreclosure or default

WHAT: More California hotels are being pushed into foreclosure as tourists and businesses 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.

WHICH: Troubled properties include the downtown Los Angeles Marriott, the Sheraton Universal and the W hotel in San Diego, and the St. Regis Monarch Beach in Orange County.

WHAT’S NEXT: Most struggling hotels remain open, but industry experts say many properties are likely to be closed in the months ahead — even if they are not in foreclosure — because they are losing so much money. For example, the owners of the Quail Lodge Resort and Golf Club in Carmel plan to close the doors Nov. 16.

Daily OutrageOpinionOther Opinion

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

A nurse draws up a dose of the Moderna COVID-19 vaccine at the Mission neighborhood COVID-19 vaccine site on Monday, Feb. 1, 2021. (Kevin N. Hume/S.F. Examiner)
SF expands vaccine eligiblity, but appointments ‘limited’

San Francisco expanded eligibility for COVID-19 vaccinations Wednesday but appointments remain limited… Continue reading

The now-shuttered Cliff House restaurant overlooks Ocean Beach people at Ocean Beach on Tuesday, Feb. 23, 2021. (Sebastian Miño-Bucheli / Special to the S.F. Examiner)
The United Educators of San Francisco rallied in front of City Hall Saturday for a candlelight vigil after several days of contract negotiations. (Samantha Laurey/Special to SF Examiner)
Teachers call for outside mediator as contract talks over school schedule continue

Union remains at odds with SFUSD over hours students should be in the classroom

Lawrence Ferlinghetti (Paul Chinn/2000 S.F. Examiner)
Lawrence Ferlinghetti, poet and titan of the Beat era, dies at 101

Elaine Woo Los Angeles Times Lawrence Ferlinghetti, the San Francisco poet, publisher… Continue reading

Most Read