Los Gatos Hotel Corp. Files for Chapter 11 Bankruptcy Protection

SUMMARY: On Monday, Los Gatos Hotel Corporation voluntarily filed for chapter 11 bankruptcy protection in San Jose, California. The company was formed in 2000 to develop the Hotel Los Gatos, a 72-room boutique hotel located in Los Gatos, California. The property, which was built in 2002, also contains 2,000 square feet of meeting and conference space, Dio Deka (a Michelin star greek restaurant), and a 3,600 square foot spa and fitness facility. A courthouse auction of the hotel property had been scheduled to occur on December 7, 2010, but was delayed until January 31, 2011 at the last minute. According to bankruptcy court filings, the property was managed by Joie de Vivre Hospitality, Inc. prior to the chapter 11 filing (although the property is still listed as a Joie de Vivre hotel on its website). Los Gatos Hotel Corp. has now retained Folio Hospitality Management to manage the hotel.

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