Three Phoenix area Red Roof Inns have been noticed for trustee sales that are scheduled for Sept. 2. All were involved in a massive $1.3 billion transaction in 2007 when international hotel brand Accor sold the Red Roof group to investors in Citi’s Global Special Situations Group and Westbridge Hospitality Fund.
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Showing posts with label Red Roof Inn. Show all posts
Showing posts with label Red Roof Inn. Show all posts
Tuesday, June 29, 2010
Tuesday, April 13, 2010
Foreclosures Reveal Red Roof Inn Distress
Over the past two weeks, three separate foreclosure lawsuits have been filed on behalf of bondholders against properties owned by Red Roof Inns, clouding the future of one of the leading players in the lodging industry’s economy segment.
A foreclosure suit was filed in late March against one of Red Roof’s highest-profile locations in downtown Chicago. A week later, two properties in South Florida were hit with similar suits. The properties are parts of national portfolios of company-owned Red Roof Inn hotels used to securitize multiple loans now in default
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A foreclosure suit was filed in late March against one of Red Roof’s highest-profile locations in downtown Chicago. A week later, two properties in South Florida were hit with similar suits. The properties are parts of national portfolios of company-owned Red Roof Inn hotels used to securitize multiple loans now in default
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