Friday, February 26, 2010

Luxury Resorts going Bust

A project like "Red" McCombs' Village at Wolf Creek would be a gamble in the best of times. Considering, today's business climate with it's spare future outlook, this Village at Wolf Creek seems like the height of folly.

There is good reason for pessimism and caution!
Below is a list of troubled resorts, each name is linked to a news source:

Hudson Valley Resort & Spa, New York

East West Resort Development, Lake Tahoe, NV

Anguilla Resort, Caribbean

Los Abrigados Resort & Spa - Diamond Resorts, Sedona, AZ

Daufuskie Island Resort & Breathe Spa, South Carolina

Dellis Cay development, Caribbean

Tierra Del Sol Resort, Florida

Rivers Inlet Resort, British Columbia

Point Breeze Hotel, Nantucket Island

Tamarack Resort, Valley County, Idaho

Hunt Resort, Fitzroy Island, Great Barrier Reef

Trump Entertainment Resorts Inc, all over

Yellowstone Club, Montana

La Manga Club, southern Spain

Rancho Manana, Cave Creek, AZ

The Whiteface Lodge, Lake Placid, NY

Transmontagne, Alps, Switzerland

Extended Stay Hotels, USA

W Hotel , San Diago, CA

Dubai's Istithmar World & 42nd Street at Broadway, NY, NY

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Distressed CRE Assets Jump 15% at Nation's Banks
The amount of distressed commercial real estate assets on the books of the nation's banks and thrifts approached $60 billion as of year-end 2009. That is up from $52 billion just three months earlier, a 15% increase. The $59.9 billion includes loans...

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