Mixed amid the recent wave of bankruptcies, defaults and foreclosures, there has been a trickle of hotel transactions sparking hope that distressed assets can and will be sold.
On Dec. 8, the W Hotel Union Square in New York was sold at a foreclosure auction, like the Wyndham Orange County in California the week before. Last month the Sheraton Orlando was sold to a joint venture between a private equity firm and an asset manager after first going through bankruptcy court and then a foreclosure auction
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