clock menu more-arrow no yes mobile

Filed under:

Hotels Unable to Check Out

New, 5 comments

The downtown Marriot is bankrupt, the Custom Hotel near LAX (pictured) mysteriously "changed hands," and the grand new Terranea Resort project in Rancho Palos Verdes was only saved via a cash injection. So what's the outlook of lodging in terms of hotel sales? Via the Los Angeles Times: Fewer hotels are selling and more are on the market, according to Atlas Hospitality Group. In terms of troubled properties, in all of California there are 250 hotels that are either in default or lender owned, with that figure expected to rise to 500 by the end of year. [LA Times]