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.

Just Posted

Veritas announces fee waiver for tenants ahead of big rally

A San Francisco corporate landlord accused of pricing out rent-controlled tenants by… Continue reading

The SF Public Library cleared late fees for 260,000 patrons. I was one of them.

When the San Francisco Public Library said they’d forgive all overdue fees… Continue reading

SF judge rules against homeowners trying to block waterfront homeless shelter

A San Francisco superior court judge dealt a blow Monday to homeowners… Continue reading

SF supervisor candidates back car-free streets

District 5 hopeful Preston pitches network of bike-only roads to prevent traffic deaths

Old Bay Bridge parts recycled in public art piece

‘Signal,’ a 25-foot steel ring, installed on Treasure Island

Most Read