Real estate: Bankrupt Bay Area hotels are slated for auction

Real estate: Bankrupt Bay Area hotels are slated for auction

3 years ago
Anonymous $hYN7Hy7o7J

https://www.mercurynews.com/2021/03/25/real-estate-bankrupt-bay-area-hotel-auction-covid-queen-mary/

SAN JOSE — A bankrupt hotel chain has won court approval for the sale of more than a dozen U.S. hotels, including two in the Bay Area, whose finances crumbled beneath economic blows that the coronavirus unleashed.

The auction of the hotels is scheduled to be completed by the end of May and a private investment firm has been picked as a “stalking horse” to set a minimum bid for the 15 hotels involved in the sale, according to a bankruptcy court order.

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