California to See Record Number of Hotel Foreclosures

Atlas Hospitality ^ | 26 June 2009

[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.

[Reaganesque]

Bookmark.

[uncommonsense]

Looks like within 2 years, Kalifornia will be the perfect setting for a remake of Mad Max. Ah-nold can play one of the bald mutants.

[sionnsar]

Not bad prices for a Westin!

[Publius6961]

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

The question as to whether man is intrinsically "good" has been debated for millenia. If actions speak louder than words the answer, for me, is crystal clear. Given the opportunity, power corrupts, and absolute power corrupts absolutely. Couple this fact with the current concept of "democracy" and "egalitarianism," and the results are nor surprising.

Critical professions, such as surgeons, airline pilots, engineers, architects even plumbers are expected to have a minimum level of knowledge, experience and competence, and must all pass tests to confirm the requirements of each profession. Remarkably, legislators are not among them, at any level, and the results speak for themselves. Greed, incompetence, self-service, duplicity and perversions are only a few of the common traits. Intelligence and common sense is not. Why should that continue? Can it possibly continue before the entire society fails?

The power to tax is the power to destroy. That is not a new realization. Economic and social destruction is continuing apace, and the criminals most responsible have elevated themselves to a level of immunity not enjoyed by the "commoners." Taxes are everywhere, obvious ones, hidden ones, many with misleading names, many adopted with dishonesty so blatant that it would demand long prison terms in any other venue. Taxing the helpless and the unrepresented creates the most numerous victims with no recourse whatsoever, short of not playing the game.

I grew up in San Francisco, and spent most of my life within a 40 minute drive of it. Except for the last ten years, when I changed residences to one 100 miles away. The first few years we enjoyed looking forward to spending a few days in SF twice or three times a year. Guess what the hotel tax and outrageous parking fees accomplished? No more regular trips. It is now once a year for the day. No more hotels, no more parking lots.
Hotels are closing? Big surprise.

The only solution I see is to establish requirements for become a legislator, from basic math to history, philosophy, economics, high school chemistry and physics, the English Language and familiarity with the national and state constitutions.

The "right" to vote may have been perverted to the point where the feebleminded are "entitled," but as far as I can tell there is no similar right to serve as legislator at any level and, if a plumber, who can't destroy me economically, must pass muster, why shouldn't a legislator, who has infinitely greater power to steal, to ruin, to destroy? It doesn't really matter if it is the result of criminality, stupidity or deliberate intent, the damage is every bit as real.

The time to institute minimum competence requirements for legislators is now! Anyone up for a new Initiative in California?

Two thirds of the legislature would need to find real jobs.

[gogov]

Not all hotels are having trouble. Some have found a niche market to hold their own in down market.

Check this out...

Spa Resort with more...and nothing at all

Clothing optional has become a marketing trend in upscale resorts popping up across America . For a growing number of resort goers, the option of checking their clothes at the door has become an attractive way to relax and retreat.

Nestled in the hills of a California desert community and overlooking the Coachella Valley and Palm Springs is Living Waters Spa that has served the clothing optional market for over six years.

By giving its guests the option to stay nude, it is thriving while other area hotels have been pounded by financially challenging times.

Clothing Optional Resorts

[Petronski]

Nevermind old Tom Joad.

This time around it’s Tom Patel taking the beatings.

[Lurker]

In my experience that sort of resort gives the very best service.

[MAD-AS-HELL]

the free soap on a rope also helps..

[gogov]

I’m a bit too modest for a hotel like that, even if the service is good.

[wac3rd]

No car rentals
No restaurant meals
No taxi rides
No sundry sales
No airport services
No golf course green fees
No business traveler shopping

Liberals want the former USSR, they crave it, in fact...as they are immune from the day to day poverty and despair we will all face.

[wac3rd]

They do that here in CA where houses have been foreclosed. Section 8 tenants are moved into regular neighborhoods and in most areas, crime, drugs, graffiti and gang activity have soared.

[Cringing Negativism Network]

“With 19.6% of the total, San Bernardino County leads the state in foreclosed hotels.”

-

Well there’s part of your problem:

The words “San Bernardino” and “hotel”. In the same sentence.

They would seem to imply someone would travel voluntarily, to San Bernardino and actually stay there.

[MonicaG]

Awesome post, Publis6961, thank you.

Critical professions, such as surgeons, airline pilots, engineers, architects even plumbers are expected to have a minimum level of knowledge, experience and competence, and must all pass tests to confirm the requirements of each profession.

Shoot, even the lady I pay to file & paint my toenails has 100% more training, testing & professsional certification more than our legislators, and it's TOTALLY SHOWING!!!

[ridesthemiles]

The only good thing about this is that a great number of illegal intruders work at such places.
Maybe they will go back south of the border.

This also says something else:

Tourists are NOT coming to Kalifornia in the same numbers.
Finally tourists are discovering there are lots of other places in the USA to visit.

[ridesthemiles]

Not only is it hotels, but Friday the FDIC closed down five banks. One was liquidated. Two were in California, two in Georgia, and one in New Mexico”

Absolutely NOTHING on the news here in Reno.

That puts the number of shut-down banks well over the 35 mark, I think.

Can you ID the names of the banks you are referring to? Thanks.

[SaraJohnson]

Shooting from the greenie watermelons at America’s economy... Wait until the Left and Arnie crash the economy there by refusing to cut spending in light of the diminished tax base! Then there will be more green shooting...

[AceMineral]

Okay, the banks are:

Mirae of Los Angeles
Metro Pacific of Irvine
Horizon of Pine City, Minnesota
Neighborhood Community of Newnan, GA
Community Bank of West Georgia, Villa Rica, GA

The bank in Villa Rica was liquidated, and the one that I thought was in New Mexico was in Minnesota. Has something been going on in Reno?