Stallion wrote:Perhaps the Palomar spent too much on bath towels. Headline Story in DMN Business section today says that owner is in default due to lack of success in selling condominiums section. Not sure how that would affect the Hotel operations.
Just made reservations for The Mercury tonite
Kimpton will continue to manage the property and they no doubt have provisions in their contract that guarantees a minimum level of funding to operations in order to maintain what discerning travelers have come to expect from the brand. I have no guess as to whether or not big fluffy towels will remain.
Bad execution on the condos. When it went rental, I was just waiting for the special servicer to step in.