This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here     
 

Bookmark and Share

 
Bookmark and Share





1 Comments
 Show All

16 November 2010 at 2:34 PM Central Time
In response to: Hotel del Coronado debt breakdown
Bob S. commented:
While it is certainly beautiful oceanfront real estate that anyone would love to own, I'm not really sure if I'd be happy owning it with $800,000 per room of debt on it! ...even if the interest rate is at 3%! Especially if that mortgage is coming due within the next year. In todays world, you probably couldnt re-finance more than $300,000 per room of that debt. How do you re-pay the remainder? ...With cash?...Thats a lot of dough. You are going to see some REAL screaming from the lender on this deal very shortly. Its bizarre to see a 100 year old hotel get foreclosed on. It lasted thru so many difficult times (including The Great Depression).



Login
Or enter a name to post your comment:

Post Your Comment

(4000 charcters max)

Comments that include links or URLs will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of HotelNewsNow.com or its parent company, Smith Travel Research and its affiliated companies. Please report any violations to our editorial staff.




Follow HotelNewsNow.com on Twitter Subscribe to the HotelNewsNow.com RSS Feed Connect with HotelNewsNow.com on LinkedIn