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California to See Record Number of Hotel Foreclosures
Atlas Hospitality ^ | 26 June 2009

Posted on 06/27/2009 5:38:17 PM PDT by george76

The number of California hotels in default or foreclosed on jumped 125% in the last 60 days. The state now has 31 hotels that have been foreclosed on and 175 in default...

With 19.6% of the total, San Bernardino County leads the state in foreclosed hotels. Riverside County follows with 16.1% and San Diego County has 12.9%. Los Angeles County, with 12% of the total, has the most hotels in default. San Bernardino County is next with 9.7% and San Diego County follows with 8.0%.

Non-franchised hotels account for a disproportionate number of foreclosures. They make up about 87% of the total. However, franchised otels [sic] make up 59% of the defaulted properties.

(Excerpt) Read more at atlashospitality.com ...


TOPICS: Business/Economy; Extended News; News/Current Events; US: California
KEYWORDS: bhoeconomy; default; foreclosed; foreclosures; hotels; second100days
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1 posted on 06/27/2009 5:38:18 PM PDT by george76
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To: george76

Are these the “green shoots” that the Buttcrack Administration and other brilliant economists are talking about?


2 posted on 06/27/2009 5:41:46 PM PDT by MAD-AS-HELL (Hope and Change. Rhetoric embraced by the Insane - Obama, The Chump in Charge)
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To: george76

25% travel tax, 22% room/rack tax what did you expect?

I was in Seattle on my last trip and at the hotel cafe, they charged me a dollar on my bill as a user tax.


3 posted on 06/27/2009 5:43:29 PM PDT by edcoil (If I had 1 cent for every dollar the government saved, Bill Gates and I would be friends.)
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To: george76

No tourists/business travelers = no hotel occupancies = no tax revenues to the state = boarded up building


4 posted on 06/27/2009 5:43:51 PM PDT by Extremely Extreme Extremist ("President Obama, your agenda is not new, it's not change, and it's not hope" - Rush Limbaugh 02/28)
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To: MAD-AS-HELL

Lots of weeds ?


5 posted on 06/27/2009 5:44:40 PM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: Extremely Extreme Extremist

No tourists/business travelers = no hotel occupancies = no tax revenues to the state = boarded up building
::::::::
The spend-crazy liberals never think that far ahead. They just keep spending — revenues are falling fast and they do not care. Like Obama, they have no concern about what their agenda destroys — including America.


6 posted on 06/27/2009 5:45:44 PM PDT by EagleUSA
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To: edcoil; Grampa Dave

Did they include a *free* paper ?


7 posted on 06/27/2009 5:46:14 PM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: george76

Actually no. There was no smoking in the hotel either so all the smokers were outside around the hotel. They did have a 250.00/night smokers fee to clean the room after you left.


8 posted on 06/27/2009 5:47:53 PM PDT by edcoil (If I had 1 cent for every dollar the government saved, Bill Gates and I would be friends.)
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To: edcoil

Your story makes me want to sleep in my car by the side of the road instead.


9 posted on 06/27/2009 5:48:06 PM PDT by max americana
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To: Extremely Extreme Extremist
No tourists/business travelers = no hotel occupancies = no tax revenues to the state = boarded up building

What a mess. Don't be surprised if the State turns some of these properties into government housing. That's what they're doing in Boston.

10 posted on 06/27/2009 5:48:48 PM PDT by hugorand
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To: edcoil
I was in Seattle on my last trip

First mistake there. Never stay or eat in Seattle. It's liberalville, they'll soak you for everything.

I'm only a few miles away but it takes a special event to drag me down into Seattle proper.

And when I have to go I take the bus (from the Eastside). Usually cheaper than parking though it takes longer -- and I don't have to deal with the traffic.

11 posted on 06/27/2009 5:50:06 PM PDT by sionnsar (IranAzadi|5yst3m 0wn3d-it's N0t Y0ur5:SONY|Neda Agha-Soltan - murdered by illegitimate government)
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To: george76

They MAY have to start renting them buy the hour! LOL.


12 posted on 06/27/2009 5:51:20 PM PDT by 2harddrive (then)
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To: edcoil
"Whatever you tax more of you get less of it"..Ronald Reagan..

Liberals refuse to learn...insane morons and Sacramento state house is a lunatic asylum!

13 posted on 06/27/2009 5:51:59 PM PDT by tflabo (Truth or Tyranny)
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To: edcoil
"Whatever you tax more of you get less of it"..Ronald Reagan..

Liberals refuse to learn...insane morons and Sacramento state house is a lunatic asylum!

14 posted on 06/27/2009 5:52:05 PM PDT by tflabo (Truth or Tyranny)
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To: max americana
Your story makes me want to sleep in my car by the side of the road instead.

Don't stay in Seattle. Stay out in the suburbs. Less expensive, and the buses will take you in. Go north to Snohomish county (lynnwood etc.) and take the plush buses they run into downtown Seattle.

Sno county is more conservative than Seattle's county (King) anyway.

15 posted on 06/27/2009 5:53:11 PM PDT by sionnsar (IranAzadi|5yst3m 0wn3d-it's N0t Y0ur5:SONY|Neda Agha-Soltan - murdered by illegitimate government)
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To: george76
Non-franchised hotels account for a disproportionate number of foreclosures. They make up about 87% of the total. However, franchised otels [sic] make up 59% of the defaulted properties.

Ok, I'm confused.

Can someone straighten this one out for me?

16 posted on 06/27/2009 5:55:21 PM PDT by Doe Eyes
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To: sionnsar
Don't stay in Seattle.

Whaaaaaaa???? And miss the Man-Boy nude stone fountain on the Alaskan way? How culturally insensitive of you to suggest that! /sc

17 posted on 06/27/2009 5:57:13 PM PDT by tflabo (Truth or Tyranny)
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To: george76

Take a good look.

In a couple of years, we’ll all look like California. :)


18 posted on 06/27/2009 5:57:17 PM PDT by Tzimisce (No thanks. We have enough government already. - The Tick)
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To: MAD-AS-HELL

Now be nice to him. He has never shown a ‘buttcrack’.

He might have flown Air Force One a bit too low...

but he has never worn low pants.


19 posted on 06/27/2009 5:59:13 PM PDT by Pikachu_Dad
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To: sionnsar

“plush” buses? My GF is from Bellevue, WA and she’s never heard of it. Is that the bus which travels from Vancouver BC to Seattle?


20 posted on 06/27/2009 6:00:29 PM PDT by max americana
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