More than 100 Bay Area hotels in default on mortgages

04/13/2010 | Contra Costa Times (Walnut Creek, Calif.)

An estimated 106 hotels in the San Francisco Bay Area were in foreclosure or default on their mortgages in the first quarter, according to Atlas Hospitality Group. The figure is a 10.4% increase over the 96 hotels that had mortgage deficiencies in the fourth quarter, and an official with Atlas says the trend should continue as room revenues decline and make it difficult for hotel owners to pay off their mortgages.

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Contra Costa Times (Walnut Creek, Calif.)

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