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

~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~

02/24/2010
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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