St. Regis Monarch Beach seized by Citigroup

dara

http://www.latimes.com/business/ ... reclose21-2009jul21,0,3851880.story

It's not good for anyone when a hotel goes back to the bank," Reay said. He estimated that the hotel was carrying $300 million worth of debt but is probably not worth much more than $100 million now that property values have fallen in the recession.

BTW, nice hotel.

mary666

thx