Several major luxury hotels in the Phoenix and Scottsdale areas are in trouble with their lenders as a result of the sluggish economy and an abundance of rooms in the area. The W Scottsdale and InterContinental Montelucia have had foreclosure auctions postponed several times, and if others can't get terms they need in renegotiating their loans, some could wind up turning their properties back over to the owners with no signs of conditions improving in the near future.

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