Investors seize chance to scoop up hotels at bargain prices

As the economy takes its toll on hotels and forces some owners to either sell, go into foreclosure or file for bankruptcy, some companies are seizing the opportunity to grab the hotels at bargain prices. In Los Angeles, for instance, companies including Unique Hotels, Jolie Quest Hotels and Resorts, and the Ambrose Collection are scooping up hotels, sometimes for prices lower than the hotel was built for.

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Los Angeles Business Journal (free registration)

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