Sunstone Hotel Investors Inc., a San Clemente-based real estate investment trust, will default on the June mortgage payment for its swanky W Hotel San
Diego property and turn over the 258-room downtown hotel to lenders,
after failing to lower interest payments.The hotel has been hurt by "significant and
continuing deterioration in demand for luxury lodging" as well as the
opening of luxury boutique hotels nearby, Sunstone officials say in their Sunday announcement carried by the Associated Press
Monday we told you about Sunstone Hotel Investors Inc., a San Clemente-based real estate investment trust, walking away from its mortgage for the swanky, 258-room W Hotel in downtown San Diego. R. Scott Reckard and Roger Vincent over at the Los Angeles Times report today that one of Orange County's upper-crustiest inns is on the ropes: St. Regis at Monarch Beach.Yes, that's the infamous resort where American International Group (AIG) sponsored a luxury retreat just days after accepting a federal
The AVIA is set to open on Bay Street on either August 6 or 7. The fact that the date isn't yet set in stone hints that preparations are down to the wire, so we wish them well in putting the finishes touches to the property.We're intrigued about this new hotel and, in particular, its restaurant and bar, although there's not much information on it yet, other than the website and a brief press release, which states:"AVIA Kitchen will be a true cook's kitchen, where a hosted daily breakfast feat
